Rivian shares fell 8% to $15.53 despite reporting a clear second-quarter 2026 beat and raising full-year delivery guidance, in a sell-the-news move that also dragged Lucid down 6% to $7.63. Rivian posted revenue of $1.66 billion, topping the roughly $1.54 billion consensus, and a gross profit of $179 million that crushed the $71 million estimate, while management lifted the delivery target to between 65,000 and 70,000 units. The decline reflects profit-taking after a 4% after-hours gain Thursday, with overhangs including a roughly $1.3 billion follow-on equity raise in July and near-term R2 ramp costs. Lucid fell in sympathy with no company-specific news, while Tesla outperformed with a less than 1% drop to $307.98. The Global X Autonomous & Electric Vehicles ETF held flat at $33.55, cushioned by its heavy weighting in chip names like NVIDIA and Qualcomm rather than pure-play EV brands.
Rivian Automotive IncSell-the-news despite Q2 beat and raised guidance; overhang from $1.3B equity raise and R2 ramp costs.
Lucid Group IncFell 6% in sympathy with Rivian, no company-specific news.
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NVIDIA Corporation