Rivian Stock Soars 24.5% After Strong 2024 Production and Delivery Figures

Rivian Automotive Inc. (RIVN) experienced its best trading day ever on Friday, with shares surging 24.5% to close at $16.49. The electric vehicle (EV) maker’s stock reached its highest single-day percentage gain since its initial public offering in November 2021, driven by strong 2024 production and delivery numbers that aligned with company expectations.

The automaker reported producing 49,476 vehicles in 2024, including 12,727 trucks and vans in the fourth quarter. Rivian delivered 51,579 vehicles last year, with 14,183 units shipped in the final quarter. The fourth-quarter deliveries exceeded analyst estimates of 13,472, according to Visible Alpha.

Rivian had initially projected 57,000 units for 2024 but revised its target in October to a range of 47,000 to 49,000 due to a production disruption caused by a shortage of a shared component. The company confirmed on Friday that the shortage is no longer a constraint on its production.

Despite the strong finish to 2024, Rivian’s stock declined 43% last year as the company faced challenges in meeting production targets. The automaker is scheduled to announce its fourth-quarter financial results on Feb. 20, with analysts expecting a quarterly loss of $0.67 per share and revenues of $1.31 billion.

Rivian’s recent performance has sparked optimism among investors, but analysts caution that sustained stock strength will depend on future earnings revisions and production consistency. The company remains a key player in the competitive EV market, with its R1T pickup, R1S SUV, and commercial delivery van gaining traction.