Rivian Automotive Inc
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Consumer Discretionary : Automobiles |
Company profile

Rivian Automotive, Inc. designs, develops, and manufactures electric vehicles and accessories. It sells its vehicles directly to customers in the consumer and commercial markets. Its consumer vehicles include R1T and R1S. The R1T and R1S are equipped with a proprietary set of advanced technology systems, including vehicle electronics, battery, electric drive, chassis, Driver+, its advanced driver assistance system (ADAS), and digital user experience management. It provides charging solutions that include Rivian Adventure Network Direct Current fast charging sites (Rivian Adventure Network) and Rivian Waypoints chargers. It offers FleetOS, its proprietary, end-to-end centralized fleet management subscription platform. It encompasses vehicle distribution, service, telematics, software services, charging, connectivity management, Driver+, and lifecycle management. FleetOS also supports leasing, financing, insurance, smart charging and routing, remote diagnostics, and vehicle resale.

Day's Change
0.188 (1.34%)
B/A Size
Day's High
Day's Low
(Heavy Day)

Today's volume of 674,382 shares is on pace to be much greater than RIVN's 10-day average volume of 25,598,176 shares.


SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Rivian Automotive, Inc. - RIVN

5:41 pm ET March 15, 2023 (Accesswire) Print

NEW YORK, NY / ACCESSWIRE / March 16, 2023 / Pomerantz LLP is investigating claims on behalf of investors of Rivian Automotive, Inc.("Rivian" or the "Company") (NASDAQ:RIVN). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Rivian and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On or around November 11, 2021, Rivian conducted its initial public offering ("IPO"), selling more than 175 million Class A shares at $78.00 per share for over $13.7 billion in gross offering proceeds. In the six months following the IPO, the price of Rivian's Class A stock plummeted to a low of less than $20.00 per share, 74% below the IPO price, wiping out billions of dollars in value for Rivian investors. A March 11, 2022 Wedbush analyst report summarized the myriad issues negatively impacting the Company: "Since its IPO in late 2021, the Rivian story has been a bad episode out of the Twilight Zone for the Street. The company missed their first quarter out of the box on supply chain issues "surprises", then instituted a 20% price unit increase due to inflationary pressures which was then taken back 48 hours later by management after a slew of customer cancellations, and last night added to the pain with very soft unit guidance for 2022…. To say the Rivian story has been disappointing to us (and the Street) so far would be an understatement."

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.


Robert S. Willoughby


888-476-6529, ext. 7980

SOURCE: Pomerantz LLP

View source version on accesswire.com:


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