Rivian stock surged 24.5% to $16.49 on Friday, its biggest daily gain since going public in November 2021. The rally followed a stronger-than-expected fourth-quarter car delivery report from the California-based automaker.
In the latest quarterly report, Rivian delivered 14,183 vehicles, beating analyst estimates of around 13,000. This represented the company’s highest intraday share price since July 23 and marked a significant boost to its fourth-quarter deliveries, which totaled 51,579.
Rivian’s strong results contributed to a broader rally among American car stocks on Friday, with shares in Ford, General Motors, and Tesla rising 2%, 1%, and 8%, respectively. The Michigan-based Ford and General Motors reported their best annual car sales since 2019, while Tesla rebounded from a 6% loss the previous day after its delivery data fell short of expectations.
The strong performance of Rivian stock has seen it outperform the S&P 500 by 56%, exceeding only Tesla’s gains and Palantir’s. However, shares are still down 90% from their peak shortly after Rivian’s initial public offering in November 2021.
Despite facing concerns over President-elect Donald Trump’s reported intention to cut federal electric vehicle subsidies, Rivian has seen significant institutional support, including a $5 billion investment from Volkswagen and a $6.6 billion conditional loan from the Department of Energy to build a plant in Georgia. However, if Trump’s plan is implemented, it could potentially hurt EV demand and increase sticker prices for Rivian vehicles.
Source: https://www.forbes.com/sites/dereksaul/2025/01/03/tesla-rival-rivians-stock-races-to-6-month-high-as-surprise-post-election-rally-accelerates