Rivian Stock Drops Despite Upcoming Earnings Report

Rivian Automotive (RIVN) stock dropped 0.99% despite market gains. It has fallen 29.94% in the past month.

Investors await Rivian's upcoming earnings on November 7, 2023. Estimates project year-over-year growth.

Analysts estimate 2022 earnings per share of -$4.99 and revenue of $4.35 billion, reflecting gains.

Recent analyst revisions suggest short-term business trend changes that influence stock prices.

Zacks Rank system helps investors capitalize on estimate changes to outperform the market. RIVN has a Hold rating.