From Nasdaq: 2024-05-09 10:12:42

Electric vehicle startups Rivian (RIVN) and Lucid Group (LCID) released quarterly earnings reports. LCID stock dropped 14%, while Rivian ended flat. Both companies went public in 2021 at high valuations and raised billions from investors. Rivian is taking a defensive stance conserving capital, while Lucid is aggressive in expansion and cash raising, backed by Saudi money. Rivian expects gross profit in Q4, but Lucid does not anticipate profit soon. Both companies aim to introduce affordable models to compete with Tesla in the future. Rivian is moving toward mass-market vehicles faster and has a more diverse product portfolio. Lucid positions itself as a luxury brand and compares itself to Tesla frequently, while Rivian mentions Tesla less in earnings calls. Investors seem to prefer companies with clear paths to profitability in the current market environment.



Read more at Nasdaq: Rivian, Lucid, and the Divergent Tale of 2 Startup EV Stocks