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Rivian Automotive Stock Gains 8% On Q2 Production Results

Shares of Rivian Automotive, Inc. (RIVN) are gaining nearly 8% on Wednesday morning after the electric-vehicle maker reported second-quarter vehicle production details, which were in line with its expectations.

RIVN is currently trading at $29.00, up $2.14 or 7.97%, on the Nasdaq. The stock has traded between $19.25 and $179.47 in the 52 week period. The stock opened its trading at $25.18 after closing Tuesday's trading at $26.86.

Rivian Automotive produced 4,401 vehicles at its manufacturing facility in Normal, Illinois and delivered 4,467 vehicles for the quarter ending June 30, 2022.

The company said the figures were in line with its expectations and it believes it is on track to deliver on the 25,000 annual production guidance.

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