Rivian Automotive Stock Soars After Company Reports Strong Production Numbers

Rivian Automotive Inc. (RIVN) stock price surged by over 10% in pre-market trading on Tuesday after the company reported strong production numbers for the fourth quarter of 2022.

According to the company's production update, Rivian produced 10,020 vehicles in the fourth quarter, bringing its total production for 2022 to 24,337 vehicles. This represents a significant increase from the 1,015 vehicles produced in the fourth quarter of 2021 and the 1,227 vehicles produced in the third quarter of 2022.