Why Did Rivian Stock Rocket 25% Higher Today?

Core Insights - Rivian Automotive's stock surged by 25.4% following a positive third-quarter report, surprising investors with a gross profit of $24 million instead of the expected loss of nearly $40 million [1][3][9] - The automotive division showed significant improvement in gross profit, and the software and services segment achieved a 37% gross margin [3][9] - Rivian successfully reduced its cost of automotive revenue per vehicle delivered by $19,000 compared to the previous year, while maintaining its guidance amid a competitive EV market [4] Company Developments - Rivian is set to begin deliveries of its new R2 model in the first half of 2026, with production starting at its expanded Illinois factory [5] - The company broke ground on a new facility in Georgia during the third quarter, which will support long-term capacity growth for its new mid-size platform [5] - Recent uncertainties had previously led to a drop in shares, but the outlook has improved significantly following the latest report [5][6]