Story
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:
Ad- 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.
Read next
More on Stocks
FTC Orders Walmart, Uber, Delta to Disclose Data on Personalized Pricing
The U.S. Federal Trade Commission is demanding nine major companies, including leading retail, travel, and gig economy firms, to provide information on how they use consumer data for setting individual prices and wages.
Google Launches Gemini 4 Carbon AI Model to Bolster Cybersecurity Capabilities
Alphabet's Google has unveiled Gemini 4 Carbon, its latest AI model specifically designed for advanced cybersecurity tasks like vulnerability detection and secure code generation. The launch escalates competition with rivals OpenAI and Anthropic in the enterprise AI market.
Oracle Shares Surge After Unveiling $225 Billion Revenue Target for 2030
Oracle stock rose sharply after the company presented a long-term financial outlook targeting at least $225 billion in annual revenue by fiscal 2030, driven by its expanding AI infrastructure business.
DOJ Scrutinizes Nvidia's $12.9B Hugging Face Deal Amid Broader Antitrust Probe, Sources Say
The U.S. Department of Justice is reportedly examining Nvidia's planned $12.93 billion acquisition of AI platform Hugging Face as part of a wider, ongoing antitrust investigation into the chipmaker's market conduct.