NEW YORK, Feb 14, 2026, 12:34 ET — The market wrapped up for the day.
- Rivian jumped 26.7% at the close, following its Q4 update and 2026 delivery outlook.
- UBS and Deutsche Bank both upgraded, citing R2 execution as the deciding factor
- U.S. markets are back open Tuesday, with investors already looking ahead to fresh EV catalysts set for later this month.
Rivian Automotive (RIVN.O) soared 26.7% Friday, closing out the week at $17.73. Tesla (TSLA.O) barely budged, ticking up 0.1% to finish at $417.44. Lucid Group (LCID.O) added 3.8%, reaching $10.28. Nio (NIO.N), meanwhile, dipped 0.2% to $4.95.
Rivian’s rally broke through in a market that’s been unkind to loss-making EV names and stocks linked to subsidies. Traders are zoning in on the basics now—cost to build, appetite for cheaper models, and how long the books can handle the red ink.
With U.S. equity markets closed for Washington’s Birthday on Monday, traders get a shortened week starting Tuesday. That amps up the focus on sustained moves, rather than just a single-day jolt from earnings.
Rivian posted $120 million in consolidated gross profit for the fourth quarter, with revenue coming in at $1.286 billion. Production reached 10,974 vehicles, and 9,745 units went out the door. Looking further out, Rivian is projecting deliveries between 62,000 and 67,000 for 2026, along with an adjusted EBITDA loss pegged between $1.8 billion and $2.1 billion. That metric excludes interest, taxes, and a handful of non-cash costs. The company expects to kick off R2 deliveries in the second quarter and plans to share more details on March 12. CEO RJ Scaringe said Rivian has “laid the foundation for dramatically scaling our business.” Nasdaq
Rivian told Reuters it’s targeting the volume market with its smaller R2 SUV, which will go for roughly $45,000—right in the same price bracket as Tesla’s Model Y. The push comes as demand softens following the end of the $7,500 federal EV tax credit in late September. “The growth is really, of course, what we see in R2,” said CEO Scaringe. By December, Rivian reported $3.58 billion in cash, and it’s counting on $2 billion this year from Volkswagen as part of their technology joint venture. Over at Zacks Investment Research, stock strategist Andrew Rocco noted Rivian’s bid to move “from a luxury brand to a high-volume mass market player.” But he cautioned the company’s biggest test is sidestepping production issues. Reuters
Wall Street wasted no time reacting to the numbers. Deutsche Bank bumped Rivian up to a buy from hold and boosted its price target to $23. Analyst Edison Yu pointed to “early signs that the company’s prospects are inflecting.” Over at UBS, analyst Joseph Spak upgraded the stock to neutral from sell, saying the risk-reward looks more balanced now, but he flagged that everything depends on “near flawless production execution” in the back half of 2026. Investing.com
EV stocks are a mixed bag. Tesla continues to dominate pricing and scale; smaller players, meanwhile, are burning cash to push out new models, with costs showing little sign of slowing down.
Policy risk looms large. On Thursday, Trump’s Environmental Protection Agency wrapped up its rollback of the 2009 “endangerment finding” for vehicles — the key legal underpinning of federal greenhouse-gas standards. Reuters noted the move could let automakers off the hook on tailpipe rules, but also set off lawsuits and trigger a tangle of state-level mandates. The regulatory seesaw muddies up demand projections and throws another wrench into the market for emissions credits, which have padded earnings in recent years. Reuters
Markets are back Tuesday, with eyes on Rivian to see if Friday’s move sticks after the holiday break. Lucid is next up on the EV docket, set to report Q4 results Feb. 24.
