Rivian Automotive, Inc (NASDAQ:RIVN) was falling over 7% lower on Wednesday as the electric vehicle manufacturer headed into its first-quarter earnings print, which is expected after the market close.
After Rivian printed its fourth-quarter earnings miss on March 10, the stock gapped down 6.9% the following day and plunged an additional 12% over that day and the two trading days that followed. For that quarter, Rivian reported a net loss of $2.43 per share on revenues of $54 million, which missed the consensus estimate of a loss of $1.97 per share on revenues of $60 million.
