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Updated · Sherwood News · Jun 3Rivian Stock Rises for 10th Day as R2 SUV Deliveries Near June 9
3 articles · Updated · Sherwood News · Jun 3Summary
- Rivian shares climbed for a 10th straight session on Wednesday, putting the EV maker on pace for its longest winning streak ever.
- More than 40% of gains over the past two weeks have come as Rivian approaches June 9 customer deliveries of its closely watched R2 SUV.
- The R2 will debut at nearly $60,000, with a lower-priced version in the $45,000 range slated for late next year.
- Rivian has indicated it could deliver up to 25,000 R2s this calendar year, making the launch a key test of demand and execution.
- Even after the rally, the stock remains about 7% lower this year and nearly 90% below its late-2021 peak.
Insights
Can Rivian's cheaper R2 scale fast enough to survive the EV price wars and finally deliver on its long-promised profitability? Is Rivian's ambitious robotaxi plan with Uber a realistic path to profit or a costly distraction from its core manufacturing challenges?