Rivian’s earnings announcement after the bell should be interesting. Although Q4 and FY22 results will be important, investors are already aware that the company missed its production target for 2022, potentially placing added significance on the forward guidance.
$RIVN has moved steadily lower since its late 2021 IPO, which isn’t all that surprising given the broader market conditions and bearish sentiment toward speculative stocks. The stock currently hovers just above its all-time low, and if the EV maker uses their earnings call to express concerns about output or demand, it would likely result in a retest of the lows.
However, if Rivian can show signs that they are overcoming the supply chain issues cited last quarter and have the potential to increase and hit production targets for 2023, it could provide a catalyst to fuel the stock higher and possibly target a break above the downtrend resistance, which stems back to April.
All trading involves risk, but it should be worth keeping tabs on Rivian’s earnings and how the market reacts.
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