Rivian Stock (RIVN) Falls after Reporting a Steep Drop in Vehicle Deliveries
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Tariffs introduced by President Trump's administration have also added to Rivian's troubles by increasing manufacturing costs across the industry and forcing many automakers to rethink their supply chains. At the same time, Rivian's production fell short of expectations. In fact, only 5,979 vehicles were built in Q2 compared to analyst estimates of 11,330, as the company prepares to launch updated versions of its R1T truck and R1S SUV for 2026. Despite these issues, Rivian maintained its 2025 delivery forecast of 40,000 to 46,000 vehicles.
Separately, on the financial front, Rivian received a $1 billion equity investment from Volkswagen Group (VWAGY) at an effective price of $19.42, which represents a 33% premium to the $14.56 30-day volume-weighted average stock price. The investment is part of the $5.8B agreement associated with the Rivian and Volkswagen Group technology joint venture.
Is RIVN Stock a Buy or Sell?
Turning to Wall Street, analysts have a Hold consensus rating on RIVN stock based on seven Buys, 13 Holds, and three Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average RIVN price target of $14.64 per share implies 10.8% upside potential.
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USA Today
36 minutes ago
- USA Today
Trump promotes UFC fight at White House, migrant remedy for farmers in Iowa speech
The Iowa speech came the same day the House gave final approval to Trump's legislative package of tax reductions and Medicaid cuts. President Donald Trump told an Iowa crowd he would sign the legislative package in a patriotic ceremony on July 4 and focus resources on national parks − as well as holding a UFC fight at the White House - as he embarks on a yearlong celebration of the country's 250th anniversary. 'There could be no better birthday present for America than the phenomenal victory we achieved just a few hours ago, when Congress passed the one big beautiful bill to make America great again,' Trump told a crowd at the Iowa State Fairgrounds in Des Moines for a 'Salute to America Celebration.' Trump said he would sign the bill at the White House joined by House Speaker Mike Johnson, R-Louisiana; Senate Majority Leader John Thune, R-South Dakota; and many congressional Republicans. Trump said military pilots who successfully bombed Iran will be guests for a flyover of military planes during the patriotic ceremony. 'We're going to have B-2s and F-22s and F-35s flying right over the White House,' Trump told reporters before flying to Iowa. 'We'll be signing with those beautiful planes flying right over our heads.' Trump promises immigration enforcement fix for farmers One of Trump's top priorities is to improve border security and deport immigrants who are in the country unlawfully. But after hearing concerns that farmers were losing migrant workers they depend on, Trump outlined how Homeland Security Secretary Kristi Noem was developing legislation to effectively allow farmers to vouch for their workers to allow them to stay. Trump said similar lenience would be extended to hotel and leisure industries. 'We don't want to take all of the workers off the farms," Trump said. "We've got to work with the farmers." 'We're going to put you in charge," Trump told the crowd. Series of state fairs will begin in Iowa: Trump Trump ‒ who has long embraced patriotic themes and imagery to complement his "America first" agenda ‒ already had a controversial taxpayer-funded military parade on the streets of Washington, D.C. The parade June 14 marked the 250th anniversary of the U.S. Army and fell on Trump's 79th birthday. In Iowa, Trump unveiled efforts to create the "Great American State Fair," a concept he touted on the 2024 campaign trail as a "unique, one-year exhibition featuring pavilions from all 50 states." He said events during the next year at fairgrounds nationwide would culminate on the National Mall in Washington, D.C. 'We will be orchestrating what we're calling the great American state fair and it will start right here in Iowa,' Trump said to cheers. 'We're going to have a big crowd.' Trump says he'll host UFC fight at White House To boost national parks, Trump proposed to raise the entrance fees for foreigners as part of his "America first" strategy. "Every one of our national park battlefields and historic sites are going to have special events in honor of America 250," Trump said. "And I even think we're going to have a UFC fight. We're going to have a UFC fight on the grounds of the White House." "Championship fight − full fight," he added. Trump signed an executive order on the flight to Iowa creating a Make America Beautiful Again Commission to overcome what he called 'years of mismanagement, regulatory overreach and neglect of routine maintenance" at the National Park Service and the Forest Service. The commission is to include Defense Secretary Pete Hegseth, Agriculture Secretary Brooke Rollins, the heads of the Environmental Protection Agency and Office of Management and Budget and others. Trump seeks to expand access to public lands and recover fish and wildlife populations through voluntary conservation efforts. 'Land-use restrictions have stripped hunters, fishers, hikers, and outdoorsmen of access to public lands that belong to them,' the order said. The National Park Service has $23 billion in deferred maintenance on roads, trails and historic landmarks, the order said. The Forest Service has $10.8 billion in deferred maintenance, the order said.
Yahoo
an hour ago
- Yahoo
The House gives final approval to Trump's big tax bill in a milestone for his second-term agenda
WASHINGTON (AP) — House Republicans propelled President Donald Trump's big multitrillion-dollar tax breaks and spending cuts bill to final passage Thursday in Congress, overcoming multiple setbacks to approve his signature second-term policy package before a Fourth of July deadline. The tight roll call, 218-214, came at a potentially high political cost, with two Republicans joining all Democrats opposed. GOP leaders worked overnight and the president himself leaned on a handful of skeptics to drop their opposition. Democratic leader Hakeem Jeffries of New York delayed voting for more than eight hours by seizing control of the floor with a record-breaking speech against the bill. Trump celebrated his political victory in Iowa, where he attended the kickoff for a year of events marking the country's upcoming 250th anniversary. 'I want to thank Republican congressmen and women, because what they did is incredible,' he said. The president complained that Democrats voted against the bill because 'they hate Trump — but I hate them too.' Trump said he plans to sign the legislation on Friday at the White House. The outcome delivers a milestone for the president and for his party. It was a long-shot effort to compile a lengthy list of GOP priorities into what they called his 'one big beautiful bill,' at nearly 900 pages. With Democrats unified in opposition, the bill will become a defining measure of Trump's return to the White House, aided by Republican control of Congress. 'You get tired of winning yet?' said House Speaker Mike Johnson, R-La., invoking Trump as he called the vote. 'With one big beautiful bill we are going to make this country stronger, safer and more prosperous than ever before,' he said. Republicans celebrated with a rendition of the Village People's 'Y.M.C.A.,' a song the president often plays at his rallies, during a ceremony afterward. 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The Hill
an hour ago
- The Hill
Trump takes ‘big, beautiful bill' victory lap in Iowa: 5 takeaways
President Trump on Thursday visited Iowa to kick off a year-long celebration of the 250th anniversary of the country's founding at an event that doubled as a victory lap for the passage of a major legislative package. Trump spoke at a 'Salute to America' event in Des Moines, Iowa, on the eve of Independence Day. His remarks came hours after the House passed the One Big Beautiful Bill Act, sending the legislation that contains many of the president's campaign promises to Trump's desk. The president also mused about the mutual 'hate' between him and Democrats, a potential exemption for farmers to avoid the deportation of their undocumented workers and a recent exchange of missiles between the U.S. and Iran. Here are five takeaways from Trump's Iowa remarks. The speech offered Trump a chance to bask in the legislative success of getting a massive tax and spending bill across the finish line in the House and Senate after months of negotiations and tense final hours of convincing holdouts to support the bill. While Trump is expected to sign the bill into law on Friday at the White House, he used Thursday's remarks to highlight some of what's in the package. The legislation extends the tax cuts Trump signed into law in 2017, which were set to expire later this year. It also eliminates some taxes on tipped wages, a provision that drew roars from the crowd in Iowa. The bill provides a $150 billion increase in funding for a border wall, immigration enforcement and deportations. It provides $150 billion in new defense spending for priorities like shipbuilding and a 'Golden Dome' missile defense project. Democrats have seized on how the bill contains cuts to low-income health and nutrition programs — reductions designed to help offset the loss of revenues from the tax cuts but that are also expected to eliminate health coverage for millions of people. 'This is a declaration of independence from a really national decline. We had a national decline,' Trump said. 'We were a laughingstock all over the world. We had a man as president who shouldn't have been there.' Trump is no stranger to using harsh rhetoric to attack his critics and political opponents, and he did just that on Thursday as he railed against Democrats for voting against the GOP reconciliation package. 'All of the things we did with the tax cuts and rebuilding our military, not one Democrat voted for us. And I think we use it in the campaign that's coming up, the midterms,' Trump said. 'But all of the things that we've given, and they wouldn't vote. Only because they hate Trump,' the president continued. 'But I hate them, too. You know that? I really do, I hate them. I cannot stand them because I really believe they hate our country, you want to know the truth.' Trump has in the past referred to political opponents as the 'enemy from within' and 'scum' and described then-Vice President Harris as 'mentally impaired.' The president's critics have regularly compared him to dictators and authoritarian regimes. The president, who has racked up a number of foreign policy victories in recent weeks, took time during Thursday's event to poke fun at Iran for its response to U.S. strikes on its nuclear facilities last month. Trump touted the U.S. strikes, and he noted that the pilots and mechanics who worked on the planes that flew over Iran would be at the White House for Fourth of July celebrations. The president also seemed to mock Iran for giving the U.S. a heads-up before firing missiles at a U.S. military base in Qatar in response to the strikes on the nuclear sites. 'They were nice enough — this is Iran — to call me and tell me that they would like to shoot at me 14 times,' Trump said. 'So, they want to shoot us, and I said go ahead, and they shot 14 high-grade, very fast missiles. Every single one of them was shot down routinely.' Trump claimed earlier Thursday that Iran wants to speak to him and signaled an openness to having conversations. He noted Steve Witkoff, his special envoy for the Middle East, has been handling talks with Iran. 'I think they want to meet. I know they want to meet,' he said. 'And if it's necessary I'll do it.' Speaking to a crowd filled with farmers and others with a stake in the agriculture industry, Trump acknowledged a conundrum with his aggressive deportation efforts. The president has vacillated in recent months between deporting all individuals who are in the country illegally and being sympathetic to farmers and hospitality executives who rely on migrant workers for labor. On Thursday, Trump indicated he was open to leaving farmers to their own devices. 'We want all the criminals out, everybody agrees. The farmers, some of the farmers… they've had people working for them for years, and we're going to do something,' Trump said. 'If a farmer is willing to vouch for these people in some way, we're going to have just say that's going to be good. We're going to be good with it,' Trump added. 'Because we don't want to do with it where we take all the workers off the farm. 'Serious radical right people, who I also happen to like a lot, they may not be quite as happy. But they'll understand,' Trump said. July 13 will mark the anniversary of the campaign rally in Butler, Pa., where Trump survived an assassination attempt after being grazed by a bullet. When a firework boomed in the distance as he spoke in Des Moines, Trump's mind appeared to flash back to that moment nearly a year ago. 'It's only fireworks, I hope. Famous last words,' Trump quipped. 'You always have to think positive,' Trump added. 'I didn't like that sound either.' Trump is expected to sit down for an interview with his daughter-in-law and Fox News host Lara Trump for an interview next week at the White House that will air ahead of the anniversary of the Butler rally. Axios first reported on the planned interview.
