Here's Why Rivian Stock Jumped This Week
Key Points
The news from Rivian this week went right to R2 reservation holders.
June 9 is the day when orders are detailed and deliveries begin.
Rivian's future could be determined by the level of demand for the R2.
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There haven't been any official news releases by Rivian Automotive (NASDAQ: RIVN) this week, yet the stock has been soaring. That's because the company has been communicating directly with R2 reservation holders, helping to build buzz for its launch.
Rivian stock has risen 25% over the last month as investors anticipate the launch of its R2 electric SUV. That includes an 11% move higher this week, as of Friday morning, according to data provided by S&P Global Market Intelligence.
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Image source: Rivian Automotive.
Rivian's future starts next week
Rivian has had a relatively successful start-up as an electric vehicle (EV) company. While EV demand growth has slowed, several EV makers have throttled production plans or even exited the market. Rivian, however, has maintained its slow-and-steady path toward the launch of its next-generation R2.
After delivering over 40,000 EVs last year, the company expects the lower price and more advanced technologies to propel the R2 into the mass market. Management expects to sell closer to 65,000 units this year. The inflection point is next week, on June 9, when invitations for orders are sent to reservation holders, demo drives begin, and the initial R2s are delivered to customers.
Investors wanting to get in ahead of the first sales data reports have been driving the stock higher. Rivian is still a speculative stock, as the company won't be profitable this year. Its valuation, based on 2026 revenue expectations, isn't excessive, however. A forward price-to-sales ratio of about 3 has some long-term investors willing to speculate on the R2's success.
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Howard Smith has positions in Rivian Automotive. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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