Electric adventure vehicle maker Rivian reported fourth quarter results after the bell on Wednesday.
EV maker Rivian (RIVN) sees its stock slide in after-hours trading after reporting mixed fourth-quarter results, beating revenue estimates with $1.32 billion while posting wider-than-expected losses of $1.36 per share. Additionally, the electric vehicle company's production guidance is well below forecasts as it plans to reduce its workforce by 10%. Truist Securities Equity Research Analyst Jordan Levy — who has a Buy rating on Rivian stock with a $26 per share price target — joins Yahoo Finance's Josh Lipton and Julie Hyman to break down the fourth-quarter report. "As we go through the year, I think the biggest catalyst is going to be can they push towards those gross margins for the R1 line and the commercial vehicles," Levy explains. "That's the biggest question investors are contending with right now is can this company produce vehicles at a profit and they need to show that they can. That's... by far the most important factor." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
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