Rivian (RIVN) shares dip after reporting narrower-than-expected losses in its second-quarter earnings. The EV maker slid past earnings expectations with revenue off $1.12 billion — against estimates of $1.01 billion — and losses of $1.08 per share — against estimated losses of $1.37 per share. Rivian raised its full-year production forecast to 52,000 EVs.
Truist Securities Equity Research Analyst Jordan Levy states Rivian's ability to produce EVs, both efficiently and at a profit, remains "critical." Levy points out what investors should look out for in Rivian's earnings calls, explaining his own price target for the automaker.
