NASDAQ: RIVN
Key Data Points
Rivian Automotive (RIVN +4.20%) dropped 5.1% Thursday to close at $13.70. Volume surged to 82.5 million shares, more than double its three-month average of 35.4 million, highlighting intense selling interest.
The broader market strengthened, with the S&P 500 (^GSPC +0.54%) up 0.8% and the Nasdaq Composite (^IXIC +0.65%) rising 1%, with gains reflecting positioning ahead of Friday's jobs report as traders expect softer labor data to increase the odds of Federal Reserve prime rate cuts.
Peers were mixed. Tesla (TSLA +0.82%) climbed 1.3% to $338.53, while Nio (NIO +0.73%) slid 3% to $6.13. Rivian's decline stood out despite a supportive macro backdrop, suggesting company- and sector-specific headwinds dominated trading.
Rivian's pullback reflects investor unease about tariffs as well as the scheduled Sept. 30 expiration of the federal $7,500 EV tax credit, which may cut demand once the incentive vanishes. This is compounded by broader signs of cooling EV demand and the company's cost-management layoffs.
Market data sourced from Google Finance and Yahoo! Finance on Thursday, Sept. 4, 2025.