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Most of the EV Stocks Took off in Premarket Trading Though Rivian Posted Disappointing Financial Results

Tiger Newspress2022-08-12

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.

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  • Thalos
    ·2022-08-12
    Will rather buy other growth stocks of the same price range
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  • blessed_1
    ·2022-08-12
    [lovely] 
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  • kiki88
    ·2022-08-12
    Stay positive.. [LOL] 
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  • 5D1T2
    ·2022-08-12
    Ok
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  • Vincent1968
    ·2022-08-12
    Okie 
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  • Slee49
    ·2022-08-12
    OK
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