Why Rivian Automotive Stock Keeps Going Up

Core Viewpoint - Rivian Automotive has seen a significant increase in stock price following a raised price target by analysts, driven by the anticipation of the new R2 electric SUV and advancements in technology [3][4]. Group 1: Sales Performance - Rivian reported strong sales growth in Q3, attributed to a consumer rush to purchase EVs before the expiration of the federal EV tax credit [7]. - The sales surge in Q3 may have pulled demand forward from Q4 and into 2026, making it challenging to sustain this momentum [7]. Group 2: Analyst Insights - Baird analyst Ben Kallo raised Rivian's price target from $14 to $25, citing the upcoming R2 electric SUV as a key factor [3]. - Wedbush analyst Daniel Ives supports this view, highlighting Rivian's development of a new AI chip and efforts to enhance vehicle autonomy as additional revenue opportunities [4]. Group 3: Financial Metrics - Rivian's current market capitalization is approximately $25 billion [9]. - The stock has experienced a daily price range of $20.35 to $22.64, with a 52-week range of $10.36 to $22.64 [6]. - Rivian's gross margin stands at -159.38%, indicating significant financial challenges [6].