Rivian Automotive (RIVN) Stock

One important lesson I've learned in this business is to avoid celebrating too early. It's best to wait until you have made at least double the profit from your initial investment in a trade.

Rivian Automotive's shares (RIVN 22.07%) rose on Friday after the company revealed its fourth-quarter production and delivery figures, which exceeded Wall Street's expectations.

On Friday, Rivian Automotive (RIVN) saw a significant increase in its stock prices after the company announced that its full-year production surpassed its earlier reduced forecasts. They also mentioned that an issue that had impacted their production has now been fixed.

Rivian Automotive Inc (NASDAQ:RIVN) exceeded expectations for its production and delivery figures in the fourth quarter, causing its stock to rise by almost 22% on Friday morning. The electric vehicle manufacturer is moving forward in its efforts to become profitable and is addressing a significant shortage of components that had affected its production.

Phil LeBeau from CNBC shares updates about Rivian.

Rivian ended last year by delivering 51,579 electric SUVs, trucks, and vans, which is more than three times the amount they sent to customers in 2022.

On Friday, Rivian exceeded what analysts predicted for their fourth-quarter deliveries and announced that they are no longer limited by a shortage of parts. This is a good indication for the electric vehicle company as it seeks to achieve its first profit.

Rivian Automotive's vehicle production and deliveries for 2024 met the company's earlier forecasts. In October, Rivian reduced its production goal for 2024 to between 47,000 and 49,000 vehicles.

IRVINE, Calif.--(BUSINESS WIRE)--Rivian Automotive, Inc. (NASDAQ: RIVN) has shared its production and delivery numbers for the quarter and the entire year ending December 31, 2024. The company made 12,727 vehicles at its plant in Normal, Illinois, and delivered 14,183 vehicles during that time. For the whole year of 2024, Rivian produced 49,476 vehicles and delivered 51,579, which aligns with their guidance of 47,000 to 49,000 vehicles.