Rivian posts wider quarterly loss, stock falls 4%

MarketWatch ^ | May 7, 2024 at 4:33 p.m. ET | Claudia Assis

[Eccl 10:2]

Shares of Rivian Automotive Inc. fell 4% in the extended session Tuesday after the EV maker posted mixed quarterly results, reporting a wider-than-expected loss but revenue above Wall Street’s expectations.

Rivian RIVN lost $1.45 billion, or $1.48 a share, in the first quarter, compared with a loss of $1.35 billion, or $1.45 a share, in the year-ago quarter.

[Eccl 10:2]

More subsidies !!! /s

[ProtectOurFreedom]

I've seen three different Rivians in the past three days. Good looking vehicles...FAR better than the Cybertruck.

My son and I toured the Petersen Automobile Museum in Los Angeles on Saturday. Down in "The Vault" is the Cybertruck that Musk blasted with the Thompson submachine gun! Previously it was on display on the main for (first photo below) but now it's just sandwiched between two other vehicles (my photo at bottom).

This is what we saw down in The Vault...

[bicyclerepair]

I wouldn’t buy one and not because it looks like a clown car. The vertical oval headlights are hideous imo.

[Bernard]

I was in a doctor office and read the local physical paper for the first time in a long time while I was waiting. There was an article written by some state-wide peddler about how an additional subsidy investment by the state of Illinois into Rivian was a better investment than putting money into a new stadium for the Bears.

So there is always the "this is better than that" still going on. Good thing Illinois still has more money to throw around in subsidies.

[Fresh Wind]

The vertical oval headlights are hideous imo.

Sort of like two miniature Edsel grills.

[VanShuyten]

Doesn’t look like the three-quarters of BILLION dollars Illinois is giving them will be nearly enough, since Rivian lost twice that in just the first quarter.

[Noumenon]

Because no sane individual wants to buy your subsidized EV shit.

[bobcat62]

Perhaps Tim @ Apple will give Rivian an infusion.

[minnesota_bound]

I saw on Scotty Kilmer that the owner of Fisker (electric) is selling his home and it is worth $10 million more then the company...
https://youtu.be/Q5LWhSpWxk8?t=179

[Eccl 10:2]

I love Scotty Kilmer. He strikes me as a real straight shooter.

[DAC21]

“posted mixed quarterly results, reporting a wider-than-expected loss but revenue above Wall Street’s expectations”

Rivian taking a page out of Ford’s EV division. The more they sale the more they lose.