-1 C°
Traffic jam:   4

Rivian stock plummets after its first earnings report

17 December 2021
2 min.
Rivian stock plummets after its first earnings report

All about Rivian today

Rivian (RIVN) shares fell after the electric car startup released its first financial report as a public company. The losses were higher than analysts had forecast, and Rivian also lowered its production forecast for 2021. Rivian will start building its second plant in 2022. You can read the full Rivian report as well as press releases from other companies on our website under 'Press Releases'. Rivian's full report.

Electric car startup Rivian (RIVN), whose IPO on November 10 this year was one of the biggest in history, on Thursday after the close of trading published its first financial report as a public company. Shares in Rivian (RIVN), up 8% since the first day of trading and down 36.8% from its high on 16 November, fell 5.33% on Thursday, continuing an 8.8% fall in the post-market.

Rivian report compared with analysts' forecasts

The electric car maker reported a loss of -$12.21 per share on revenues of about $1 million for the three months ended September 30, 2021. Market analysts' average estimates were -$5.52 per share on revenues of $1 million.

The results below Wall Street's expectations are typical of many start-ups whose main goal is to ramp up production and invest in technology.

Rivian issued a $1.25bn floating-rate senior secured bond in October maturing in 2026, and raised gross proceeds of $13.7bn from its IPO in November.

Rivian lowered its 2021 production forecast of 1,200 cars by "a few hundred less" because of temporary difficulties.

Rivian CEO R. J. Scaringe said during a conference call with analysts on the financial report that increasing production of the R1 pickup was "harder than expected". But there are no long-term systemic problems in its supply chain, he said.

Investors should be cautious about investing in start-ups as their shares tend to be more volatile. Rivian's stock movement has resembled a rollercoaster since its IPO, as it has risen or fallen by an average of around 7.3% a day. By comparison, the S&P 500 index has moved up or down by an average of 0.8% during the same time.

Persons1 and Companies1 in the news

Founder of Rivian
1 place
1 place


Rating companies
115 Mention
Dow Jones
92 Mention
32 Mention
27 Mention
27 Mention
Bloomberg L.P.
26 Mention
20 Mention
17 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Died this year
Born this year