Rivian News: 12 Things for RIVN Stock Investors to Know About a Potential Deal With RV Rental Company Outdoorsy

Rivian (NASDAQ:RIVN) stock is in the news today thanks to talk from Outdoorsy about a potential deal for electric vehicles (EVs).

The back of a silver Rivian (RIVN stock news) pick-up truck.

Source: Miro Vrlik Photography / Shutterstock.com

Let’s take a look at that recent Rivian news below!

  • Outdoorsy CEO Jeff Cavins says the company wants to order $100 million worth of electric trucks and SUVs from Rivian.
  • That would include bout 1,000 of the company’s electric trucks.
  • The RV rental company CEO says a deal between the two is a natural fit.
  • However, he also noted it would be sometime before the trucks were delivered.
  • If Rivina accepts the deal, the EVs wouldn’t likely be delivered until 2023.
  • Of course, there’s also the option that Outdoorsy will seek EVs from other companies.
  • Cavins notes that the company is also in talks with Ford (NYSE:F) to supply some of its EVs.
  • Neither Rivian nor Ford have commented on the matter.
  • Rivian would likely be able to handle orders for Outdoorsy.
  • The company is targeting production of 1,310 vehicles per week.
  • On the flip side of that, it also has 55,400 pre-orders already in place.
  • That would likely explain why Outdoorsy wouldn’t see its trucks until 2023 if a deal goes through.

Despite talk of the potential $100 million deal today, RIVN stock isn’t doing so hot. Roughly 26 million shares have traded as of this writing, which is below its roughly 72.7 million daily average trading volume.

In addition to that, RIVN stock is down 14.5% as of Monday afternoon.

There’s more stock market news to dive into below!

InvestorPlace has all the latest stock news traders need for Monday. Among that is what’s happening with shares of PainReform (NASDAQ:PRFX), iSpecimen (NASDAQ:ISPC). and AMC Entertainment (NYSE:AMC) today. You can get up to speed on all of those stories at the following links!

More Stock Market News for Monday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2021/11/rivian-news-12-things-for-rivn-stock-investors-to-know-about-a-potential-deal-with-rv-rental-company-outdoorsy/.

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