Most of the EV stocks took off in premarket trading though Rivian posted disappointing financial results. 
Rivian says it now expects a 2022 loss of $5.45 billion, from a previous estimate of a $4.75 billion loss.
It said it lost $1.7 billion, or $1.89 a share, in the second quarter, compared with a loss of $580 million, or $5.74 a share, in the year-ago period. Adjusted for one-time items, Rivian lost $1.62 a share in the quarter.
Revenue reached $364 million, from no revenues a year ago, mostly thanks to the deliveries of 4,467 electric vehicles in the quarter, the company said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments