"Rivian stock explodes after Volkswagen's jaw-dropping $5 billion partnership - you won't believe the impact on electric vehicle market!"
Shares of Rivian Automotive (RIVN) jumped following the market close on Tuesday after Volkswagen (VWAGY, VOW.DE) announced it would invest up to $5 billion as part of a joint venture.
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Here's a breakdown of Yahoo's senior finance reporter, pro Superman. This happens when you're, basically, when you're walking onto the set, um, maybe this announcement was made in a tweet or or a post on X, right? Just when CEO RJ was talking about how, uh, he and Oliver Bluman.
CEO of Volkswagen, made a deal here to create a joint venture, uh, 1 billion in funding came in, uh, to make this happen.This is for electrical and electronic platform things and software.
It's like the backbone of some electric vehicles. Uh, it would be some kind of joint venture. Will this technology be used in a number of electric vehicles? And it could be as much as $5 billion considering their, uh, JJ V progress.
So, for Rian, you see the stock going up. I mean, this is a big step. It was after work hours, it was also trading time. But, um, basically, it kind of takes away the worry of what to do? Do they have enough money to keep going until 2026 when their ball carrier comes out?
That's my question do you think the gift is like changed. It helps change the story, the narrative, because there are a lot of questions about this company, and we don't know about it. We don't know.
This is A's $1 billion convertible offering. We don't know how big their stock is, but right now you have to say to yourself, they have the ability to get the support of VW, one of the largest automotive companies in the world, to date.
executing their vision, bringing a mass market vehicle by 2026 so this is a big step in the right direction for Rbe. And I think that's why we're seeing enthusiasm in the stock right now.
Uh, big step for them. And just for people who haven't covered it yet, follow this closely.
They make this kind of premium electric pickup truck, which I personally think looks really cool when you look at it. However, the company went public in 2021. The price is $78 per share. And as we just saw, they're trading E. Even with a raise this big, they're trading around 15.
So they're like, I mean, look, almost everything published in 2021 is down drastically. But still, the company's prospects are so high that it is experiencing difficult times. Yes. You know, um, at depressed price levels, when I was down, I believe $10 at some point.
Um, you know, what we're talking about is They have cash and IP technology that can be equated to money. There he is. You pay, you pay. Obviously the debt is there, that's the big problem. But, um, you're absolutely right, Julie.
I mean, the enthusiasm was crazy at the time, and it came back down to earth. We looked at the fact that they were losing money on every vehicle. Sold, uh, RJ, scared to say yesterday in a Reuters report Yesterday, they went to visit the factory and talked about how they've increased a lot of cost cutting.
They simplify the process. Cut like 50 components from some vehicles. They make vehicles cheaper. That was a big positive thing we saw yesterday.
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