Rivian Stock Rebounds as EV Sector Shakes Off Lucid Rumors

Rivian Automotive (RIVN) shares surged in morning trading Wednesday, rebounding from a turbulent prior session after the electric vehicle sector was rattled by unsubstantiated rumors concerning peer Lucid Group. The stock climbed 6.0% to $18.56, as investors refocused on the company's operational strength and a more constructive analyst outlook.

Sector Fears Subside

The rally marks a sharp reversal from Tuesday, when Rivian's stock was caught in a downdraft affecting the broader EV market. According to Investing.com, reports emerged that competitor Lucid Group was exploring a potential bankruptcy filing, causing its shares to fall and pulling Rivian down by approximately 3% at one point.

Sentiment recovered after Lucid issued a statement calling the claims "completely false." The denial allowed Rivian to pare its losses by the end of Tuesday's session, and Wednesday's gains reflect a full normalization as the sector-specific overhang dissipates.

Analyst Commentary and Fundamentals

Adding to the positive momentum, Morgan Stanley analyst Andrew Percoco raised his price target on Rivian to $13 from $12, as reported by Investing.com. While maintaining an Underweight rating, the firm noted it was more constructive on the stock ahead of its earnings report, citing several key factors:

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• A strong Q2 delivery beat, with 12,194 vehicles delivered.
• Raised full-year 2026 production guidance to between 65,000 and 70,000 vehicles.
• A recently completed equity raise.

Separately, Barclays maintained its Equalweight rating with a $14 price target, flagging that demand for the upcoming R2 model will be a key focus for investors. The broader market also provided a supportive backdrop for the stock's recovery.

What's Next for Rivian

With the market noise from the Lucid rumors fading, investor attention is now turning back to Rivian's own performance. The company's next major catalyst is its second-quarter earnings report, which is scheduled for release on July 30.