New York, January 9, 2026, 09:31 ET — Regular session
- Rivian shares fell about 0.9% early Friday after U.S. regulators disclosed a recall tied to a rear suspension part.
- Piper Sandler lifted its price target, while an SEC filing showed CEO R.J. Scaringe sold shares under a pre-set plan.
- Investors also weighed a softer December U.S. jobs report and fresh headlines tied to Rivian’s Volkswagen software work.
Rivian Automotive, Inc. shares were down about 0.9% at $19.89 in early trade on Friday after U.S. safety regulators said the company is recalling 19,641 electric vehicles over an improperly reassembled rear toe link, a part of the rear suspension. The National Highway Traffic Safety Administration said Rivian will replace the rear toe-link bolts free of charge and cited one crash with minor injuries.
The recall lands on a company still trying to keep a lid on costs while it pushes volume. In 2025, Rivian produced 42,284 vehicles and delivered 42,247, so even a “service-only” issue can get attention when the stock is trading like every dollar matters.
Markets were also chewing on the U.S. jobs report. Nonfarm payrolls — the government’s broad count of jobs outside farming — rose 50,000 in December, below the 60,000 economists expected in a Reuters poll, and the unemployment rate eased to 4.4%. Peter Cardillo, chief market economist at Spartan Capital Securities, called it “not too hot, not too cold.” reuters.com
Rivian also showed up in partner headlines. Volkswagen said it plans to use Qualcomm chips in a new software platform it is developing with Rivian, and tied a $1 billion investment to hitting technical milestones this year.
On the Street, Piper Sandler raised its price target on Rivian to $20 from $14 and kept a Neutral rating. The firm flagged affordability as a drag in 2026 and said it expects North American sales to fall 1.2% this year.
The recall covers certain 2022 through 2025 R1S SUVs and R1T pickups that previously had rear suspension service between April 1, 2022 and March 10, 2025, Car and Driver reported, citing NHTSA documents. The toe link can separate in some cases, raising crash risk, and Rivian plans to start owner notifications on Feb. 24, when related VINs become searchable.
A regulatory filing also showed CEO Robert J. Scaringe sold 17,450 shares on Jan. 6 at prices ranging from $19.07 to $20.02. The Form 4 said the sales were made under a 10b5-1 plan, a pre-arranged trading program used by insiders.
Rivian lagged some peers early on Friday: Tesla rose about 1%, Lucid gained about 2.3% and Ford was up about 4.8%. Rivian is hovering around the $20 level and sits below a 52-week high of $22.67 and above a low of $10.37, according to Markets Insider data.
But the repair count and timing still sit in a grey area. If more cases surface or fixes bottleneck at service centers, investors could start penciling in higher warranty costs — and that tends to hit growth names fast.
Next up: investors will watch for any further disclosure on recall progress as Feb. 24 nears, and for Rivian’s fourth-quarter and full-year results on Feb. 12 after the market close, when the company plans a 5 p.m. ET webcast.
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