Electric Truck Developer Rivian Automotive Reaffirms Production Target as Losses Mount

Electric truck developer Rivian Automotive reported wider losses than estimated in its second quarter earnings, losing $1.7 billion. The automaker’s losses more than doubled from the same period last year, when it lost $580 million. RIVN affirmed prior production guidance to launch the R2 vehicle in Georgia with the $15.46 bln cash on hand it still has. Last year the EV upstart raised $11.9 billion to become the largest IPO of 2021, and the largest IPO since Alibaba (NYSE: BABA) … Continue reading “Electric Truck Developer Rivian Automotive Reaffirms Production Target as Losses Mount”

Ford Motor Crushes Earnings, Hikes Dividend Raising Guidance

Ford Motor reported better than expected second quarter earnings after the close Wednesday. $F stick soared after the automaker reaffirmed its 2022 outlook and hiked the Ford stock dividend. Strong demand for both the traditional combustion and new electric vehicles overcame supply and inflation headwinds. Ford made an operating profit of $3.7 billion from $40.2 billion in sales. Wall Street was looking for an operating profit of $2.6 billion from sales of $34.8 billion. Earnings Ford Second Quarter 2022 Earnings … Continue reading “Ford Motor Crushes Earnings, Hikes Dividend Raising Guidance”

Ford Sells Almost 8% in Electric Truck Developer Rivian Automotive as Soon as Allowed

Electric truck developer Rivian Automotive raised $11.9 billion to become the largest IPO of 2021. RIVN stock surged as high as $179 per share before crashing in 2022 to $20.88 on Monday following the expiration of the company’s IPO lockup period. Ford Motor sold off about 8% of its stockholdings pushing shares to an all-time low. Ford stock sold off also, down nearly 6% on the day. At one point Ford and Amazon had booked massive unrealized profits on their … Continue reading “Ford Sells Almost 8% in Electric Truck Developer Rivian Automotive as Soon as Allowed”

Electric Truck Developer Rivian Automotive IPO Soars To $85 Billion on Debut

Electric truck developer Rivian Automotive raised $11.9 billion to become the largest IPO of 2021, and the largest IPO since Alibaba (NYSE: BABA) in 2014. RIVN reached a high of $119.38 and closed at $100.73/share when markets closed

US Weekly IPO and SPAC Monitor – Hertz and Rivian Automotive

Another busy week ahead in the IPO market with 11 IPOs scheduled to bring in $10.2 billion. Electric truck developer Rivian Automotive (RIVN) and Hertz Global Holdings (HTZ) are timely with the Tesla deal and infrastructure bill.   Electric truck developer Rivian Automotive (RIVN) Plans to raise $8.0 billion at a $57.1 billion market cap. This founder-led company is developing and manufacturing a portfolio of electric adventure-ready consumer and commercial SUVs, vans, and pickup trucks. Although the company is in … Continue reading “US Weekly IPO and SPAC Monitor – Hertz and Rivian Automotive”