Rivian Automotive, Inc. (NASDAQ:RIVN) shares fell on Monday despite the electric vehicle maker’s third-quarter deliveries exceeding expectations.
Future Fund’s Gary Black weighed in on the discord between the deliveries update and the stock reaction in a post on X, formerly Twitter, on Monday.
What Happened: Rivian’s third-quarter deliveries of 15,564 units and production of 16,304 units exceeded the consensus estimates of 14,973 units and 15,545 units, respectively, Black noted. The negative stock reaction may have been due to the company leaving its 2023 production guidance unchanged at 16,304 units, ...