New York, June 2, 2026, 15:02 (EDT)
- Rivian shares gained roughly 2.3% Tuesday afternoon, ahead of the main U.S. equity benchmarks.
- Shares are moving after R2 order invites kicked off June 9. First deliveries and demo drives also started.
- CFO Claire McDonough is set to give new management commentary at Baird and UBS conferences, the next updates for investors.
Rivian Automotive shares climbed Tuesday afternoon, building on recent gains ahead of the electric-vehicle company’s first R2 deliveries to customers set for next week. Investors also looked to two upcoming appearances from Rivian’s finance chief.
The stock rose 2.3% to $17.34, hitting $17.685 earlier, with more than 29 million shares traded. SPDR S&P 500 ETF stayed almost flat, while the Invesco QQQ Trust, seen as a stand-in for big tech and growth stocks, edged up 0.2%.
Rivian is heading into the first big market test for the R2, the smaller SUV line aimed at reaching more buyers past its high-end R1 pickup and SUV. The company said order invites, demo drives, and first deliveries all start June 9. In a company post, Rivian wrote: “June 9 is the day.” Exposure
Rivian’s R2 line is positioned directly against Tesla’s Model Y. Reuters said in March Rivian plans to start with a $57,990 R2 launch version, then bring out more affordable options like a $45,000 model by late 2027. Reuters
Rivian CFO Claire McDonough will speak at the Baird 2026 Global Consumer, Technology & Services Conference at 3:45 p.m. ET Tuesday, then at the UBS 2026 Auto and Auto Tech Conference on Wednesday. Traders will watch for detail on delivery timing, pricing and margin, but aren’t looking for big-picture promises. Business Wire
Rivian founder and CEO RJ Scaringe told investors in April the R2 launch could “dramatically expand our market opportunity.” The company also noted it has a $4.5 billion Department of Energy loan backing its planned Georgia facility. Business Wire
Rivian’s April numbers helped support the stock’s recent move. The automaker said it delivered 10,365 vehicles for the first quarter and brought in $1.381 billion in revenue. Gross profit came to $119 million. The company stuck to its forecast to deliver 62,000 to 67,000 vehicles in 2026. Business Wire
Rivian shares have surged, hitting an eight-day winning streak. Trefis noted the stock is up 31% over that span, adding around $5.1 billion in market value. Trefis
Tesla, seen as the closest comp due to the Model Y, traded up roughly 1.6%. Lucid slipped 4.3% as the EV peer continued to wrestle with scale questions. Peer action was mixed. Reuters
Valuation is still an issue. Barclays analyst Dan Levy warned back in March that some R2 orders might be based on an expired $7,500 EV tax credit, making the car “significantly more expensive” than buyers expected. He put his R2 delivery estimate at 16,500 units this year, according to Reuters. Reuters
Downside risk goes beyond just price. A lag on the June 9 handoff, low rates of reservations turning into firm orders, tariff hits, or problems with service could all weigh on the trade. U.S. auto-safety regulators started a preliminary probe last week on 114,922 Rivian R1S and R1T vehicles about a rear toe-link issue. Rivian said its internal data showed the joints “operating as intended” and said it was working with NHTSA. Reuters
Cash is still going out the door. Rivian posted an adjusted EBITDA loss of $472 million in the first quarter. Adjusted EBITDA leaves out interest, taxes, depreciation, amortization, and a few other items. Free cash flow came in at negative $1.075 billion—cash left after operations and capital spending. Business Wire
R2 is in focus for the tape for now. Next up are management comments this week, then driveways set for June 9.
