Stock Market Today, July 2: Rivian Jumps on Raised 2026 Delivery Guidance
Shares of Rivian Automotive (NASDAQ:RIVN), a maker of electric pickup trucks, SUVs, and delivery vans, jumped to $18.63, up 8.44%. The stock rose after second-quarter deliveries beat its target and management lifted full-year guidance. Investors will be watching R2 SUV deliveries and 2026 delivery momentum next.
Trading volume reached 77.1 million shares, coming in about 155% above its three-month average of 30.2 million shares. Rivian Automotive IPO'd in 2021 and has fallen 82% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) was unchanged at 7,483, while the Nasdaq Composite (NASDAQINDEX:^IXIC) dropped 0.80% to 25,833. Among automotive manufacturing peers focused on electric vehicles and commercial delivery vans, Tesla (NASDAQ:TSLA) closed at $393.45, down 7.49%, and Lucid Group (NASDAQ:LCID) closed at $6.08, down 8.30%.
What this means for investors
Rivian Automotive raised its 2026 delivery guidance to 65,000 to 70,000 vehicles after reporting 12,194 deliveries in the second quarter. The EV maker had previously told investors it expected to deliver between 62,000 and 67,000 units this year. The company also announced that it will release its second-quarter 2026 financial results on July 30.
Stronger-than-expected second-quarter demand and the launch of Rivian’s R2 SUV deliveries supported the higher outlook. Investors who hope to see Rivian shares increase in value should be laser-focused on what the company says about production and, especially, demand for the new R2.
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Howard Smith has positions in Lucid Group, Rivian Automotive, and Tesla. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.
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