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Home/News Feed/Rivian launches cheaper R2 SUV but stock drops amid doubts over demand and late market entry
RIVN
$17.89
+$0.39 +2.23%

Rivian launches cheaper R2 SUV but stock drops amid doubts over demand and late market entry

Market News
10 Jun 2026
24/7 Wall Street
View Source
Bearish
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Rivian introduced the R2 SUV, priced significantly lower than its existing models, aiming to boost sales with a base price around $45,000 to $58,000. Despite CEO RJ Scaringe's enthusiasm, investors reacted negatively, causing the stock to fall over 6% after the announcement, reflecting concerns about Rivian's slow delivery pace and competition from established EV makers. The company delivered just 10,365 vehicles in Q1 and posted a $416 million net loss, raising doubts about its ability to compete in the growing market for affordable electric vehicles. Rivian's market value remains at $21 billion, which some view as overvalued compared to larger automakers like GM.

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