Rivian Stock Slips on Low Delivery Guidance

The stock is brushing off a strong quarter

Laura McCandless

Deputy Editor

Feb 21, 2025 at 10:36 AM

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) stock is down 5.1% to trade at $12.90 at last glance, as investors brush off the company's better-than-expected fourth-quarter earnings and its first "positive gross profit." The decline comes after Rivian forecasted slower deliveries this year, with the electric vehicle (EV) name expecting 46,000 to 51,000 EV deliveries this year, compared to 51,579 deliveries last year.

Following the earnings report, Cantor downgraded RIVN to "neutral" from "overweight." No fewer than four other brokerages chimed in with price-target hikes, however, including Needham to $17 from $14.

Options traders are reacting to the news, with 141,000 calls and 58,000 puts traded -- quadruple the volume typically seen at this point. The February 13 call is the most popular, where new positions are being opened.

On the charts, Rivian Automotive stock is headed for its third-straight daily loss, though the $12 level lingers below as familiar support. Year over year, the equity is up 11.4%.

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