Rivian’s stock took a 12% hit after announcing a major share sale to fund operations and DOE loan payments, but the company’s outlook isn’t all bad—deliveries are up, spending is down $250M, and they’ve turned a profit for the first time in years. The R2 model is their lifeline, but with hybrids gaining ground and massive spending looming, investors are watching nervously as Rivian tries to balance future bets with near-term wins.
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