Rivian’s $38,000 Loss per Q1 Vehicle Amidst Apple Partnership Speculation: Impact on Cryptocurrency (RIVN)
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- Rivian Automotive (RIVN) reports a worse-than-expected loss in Q1, losing over $38,000 per vehicle.
- Speculation arises about a potential partnership between Apple (AAPL) and the EV startup.
- Rivian’s stock sees a slight fall after initial gains on Tuesday.
Rivian Automotive’s Q1 results show a significant loss per vehicle, sparking concerns amongst investors. Meanwhile, rumors of a potential partnership with tech giant Apple fuel market speculation.
Rivian’s Q1 Results
Rivian reported a loss of $1.24 per share in Q1, a slight decrease from a $1.25 loss a year ago. Despite this, revenue increased by over 80% to $1.204 billion, exceeding analysts’ predictions. However, the company lost $38,784 per vehicle delivered in Q1, a figure that has raised eyebrows in the financial world. Despite this, Rivian remains confident in its path to achieving modest gross profit by the end of the year.