Two electric vehicle (EV) makers -- $Rivian Automotive, Inc.(RIVN)$ and $Lucid Group Inc(LCID)$ -- just stepped into the earnings spotlight. While both reported mixed results, their updates provided fresh context on the state of the EV sector amid rising geopolitical and tariff pressures. Interestingly, the news appears to have lifted sentiment across the board, with $Tesla Motors(TSLA)$ trading higher in response.
Rivian Automotive stock was last seen 1.2% higher at $13.66 beat, putting it just above breakeven on a year-to-date basis. Wall Street’s first-quarter expectations and reaffirmed its 2025 earnings targets, but also trimmed guidance for vehicle deliveries and capital expenditures. The company now expects to deliver between 40,000 and 46,000 units this year, with capital spending forecasted between $1.8 billion and $1.9 billion. The EV maker cited tariff concerns and a challenging global trade environment as key reasons for the downward revision.
RIVN is seeing elevated options activity today, with 42,000 calls and 22,000 puts traded so far -- roughly twice the average intraday volume. New positions are opening at the most popular contract, the weekly 5/9 14-strike call, suggesting bullish traders are targeting a short-term rebound.
Lucid Group, on the other hand, posted a wider-than-expected quarterly loss of 24 cents per share, slightly missing estimates. Revenue came in at $235.05 million, also just under expectations, though up significantly from the year-ago quarter. The company has suffered a post-earnings drop in three of the last four quarters. Despite trading 2.6% higher at $2.39 at last glance, LCID is still down nearly 22% year-to-date.
LCID is also drawing unusual options interest, with 19,000 calls traded -- double the typical intraday amount and nearly five times the number of puts exchanged so far. The weekly 5/9 2.50-strike call is seeing the most attention.
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