Overview
- Shares fell about 4% on Friday to roughly $14.59–$14.61, extending Thursday’s reversal of the post‑earnings rally.
- Third‑quarter revenue reached $1.56 billion with a $24 million consolidated gross profit and a loss of $0.65 per share versus a $0.72 loss expected.
- Rivian is spinning off its industrial AI and robotics unit, Mind Robotics, which secured $110 million in external seed funding as Rivian retains a 40.6% stake.
- Goldman Sachs kept a Neutral rating but cut its price target to $13, and JPMorgan’s Ryan Brinkman reiterated Underweight while widening projected 2025–2026 EBITDA losses and trimming his 2027 profit outlook to $200 million.
- Selling pressure has been linked to profit‑taking, broader market weakness, and Chicago Fed President Austan Goolsbee’s comments signaling uncertainty about further rate cuts due to limited recent inflation data during the shutdown.