Here's Why Rivian Automotive (RIVN) Fell More Than Broader Market

Company Performance - Rivian Automotive (RIVN) experienced a decline of 3.65% in the latest trading session, closing at $13.46, which was a larger drop compared to the S&P 500's loss of 0.05% [1] - Prior to this decline, Rivian's shares had increased by 15.84%, outperforming the Auto-Tires-Trucks sector's gain of 7.72% and the S&P 500's gain of 3.44% [1] Upcoming Earnings Expectations - Analysts anticipate Rivian Automotive will report earnings of -$0.73 per share, indicating a year-over-year growth of 29.13% [2] - The consensus estimate for Rivian's revenue is projected at $1.47 billion, reflecting a significant increase of 68.08% from the same quarter last year [2] Fiscal Year Projections - For the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$2.73 per share and revenue of $5.3 billion, representing year-over-year changes of +32.43% and +6.59%, respectively [3] Analyst Forecast Revisions - Recent revisions to analyst forecasts for Rivian Automotive should be monitored, as these adjustments often indicate changes in short-term business dynamics [4] - Positive estimate revisions are interpreted as favorable signs for the business outlook [4] Zacks Rank and Industry Position - Rivian Automotive currently holds a Zacks Rank of 4 (Sell), with no changes in the Zacks Consensus EPS estimate over the past month [6] - The Automotive - Domestic industry, part of the Auto-Tires-Trucks sector, has a Zacks Industry Rank of 166, placing it in the bottom 33% of over 250 industries [7]