Shares of EV automakers Rivian Automotive and Lucid Group plummeted as their earnings reports indicated slowing demand and low production growth prospects. Rivian's stock tanked 25% to a record low, while Lucid saw a 9% decline. Concerns over high interest rates and affordability issues have led to plans of moving downmarket to compete.
EV startups are struggling: Rivian and Lucid are both getting punished in the market. https://t.co/kpI8DScZWf https://t.co/Nwx9HgsTKM
There isn't a single reason startups are struggling, but pure-play electric vehicle companies are getting punished in the market. • For Rivian and Lucid, part of the problem might be the price points. https://t.co/krjdgs2E7V https://t.co/Fodw6SYM1A
Rivian and Lucid, two formerly-hyped EV makers, have largely disappointed markets over the past two years. https://t.co/gScbbcwEAJ
EV Startups Struggled to Build Cars. Now They Struggle to Sell Them. https://t.co/MvtV9bfDtT
EV startups Rivian and Lucid facing challenges, blame high interest rates and affordability issues, planning to move downmarket to compete. #Rivian #Lucid #EV https://t.co/0RBqiApS0M
🗞️ @Rivian and @LucidMotors hit new lows as quarterly results disappoint, raising concerns about slow evolution in the EV market. https://t.co/TOxE550Px4 https://t.co/q7CK2i9xrO
A bumpy road for EV manufacturers https://t.co/jn6Tb7rmbK
Rivian is reportedly losing ~$30,000 per vehicle produced🤯 $RIVN is -35% this week on underwhelming updates: • Q1 output projected to be ~10-15% lower than Q4 • total 2024 output projected at 57,000 vehicles—way down from initial estimates of 81,700 (and less than… https://t.co/FyhBuRGsdw
RIVIAN SHARES JUST HIT A NEW ALL TIME LOW RIVIAN SHARES ARE NOW DOWN 95% FROM THIS GOOD THING IS NOT EVEN A SINGLE PERSON HERE INVESTED IN IT RIGHT ? RIGHT ????? $RIVN https://t.co/cpsrPJAesp
$RIVN UBS double-downgrades Rivian The firm said to sell the electric vehicle maker’s stock, joining a growing group of concerned analysts following the company’s earnings report. “We had been optimistic on RIVN’ s product and brand ultimately winning out. But a rapidly…
Rivian Stock Drops After Rare Double Downgrade. EV Demand Is a Problem. https://t.co/QK11uSsGRw
WATCH: Shares of EV makers Rivian Automotive and Lucid Group tumbled after their earnings reports pointed to the impact of slowing demand on their costly ramp-up plans https://t.co/yZFCwaaPTU https://t.co/jN3VBtG0aS
Shares of EV automaker Rivian tanked 25% to a record low, while its rival Lucid sank 9% after both companies forecast low production growth https://t.co/v3yx6u7Bxe https://t.co/J3UTWHrW6k
WATCH: EV automakers Rivian Automotive and Lucid Group shares fell as uncertain economic outlook and high interest rates hit demand https://t.co/yZFCwaaPTU https://t.co/THu0uwSs58
Rivian and Lucid shares plunge after weak EV earnings reports $RIVn $LCID https://t.co/WJZ0lWKvVI
EV automakers Rivian Automotive and Lucid Group shares fell as uncertain economic outlook and high interest rates hit demand https://t.co/v3yx6u89mM https://t.co/UzFSDAglFc