2 EV Stocks Dinged by Dismal Delivery Numbers

Core Insights - Electric vehicle companies, including Rivian Automotive Inc and Tesla Inc, are heavily impacted by vehicle delivery numbers, with both companies reporting declines in their first-quarter deliveries [1] Rivian Automotive Inc (RIVN) - RIVN's stock fell by 6.5% to $12.41 following a 36% year-over-year decline in first-quarter deliveries, indicating soft demand [2] - Year-to-date, RIVN's stock is down 6.7%, but it has increased by 18.3% over the last 12 months [2] Tesla Inc (TSLA) - TSLA's stock decreased by 1.9% to $264.29 after reporting 336,000 vehicle deliveries for the first quarter, which is a 13% year-over-year drop [3] - TSLA's shares have decreased by 45% from their record high of $488.53 on December 18, but the stock has seen back-to-back weekly gains [3] Market Sentiment - Both RIVN and TSLA have experienced an increase in bearish betting, with their respective 10-day put/call volume ratios at the 82nd and 73rd percentiles of their annual range [4]