Rivian Automotive, Inc. (RIVN) experienced a sharp decline of 5.16% in the after-hours session on Monday. The drop followed the company's disclosure of its second-quarter revenue guidance.
The electric vehicle maker stated in an SEC filing that it estimates total revenues for the second quarter of 2026 to be in the range of $1.55 billion to $1.65 billion. The release of this financial projection appears to have triggered a negative reassessment among investors in extended trading.
The after-hours sell-off builds upon existing Wall Street skepticism. Earlier in the day, an analyst from J.P. Morgan maintained a Sell rating on the stock with a price target of $15.00, citing concerns over premium valuation and significant cash burn risks. Despite a strong intraday performance, commentary highlighted that Rivian's stock price had risen beyond what many analysts believe it is fundamentally worth, with the company not expected to achieve profitability before 2030 and facing potential future capital raises.