Stock Market Today, Oct. 30: Rivian Raises Full-Year Guidance on Q3 Revenue Beat
On Oct. 30, 2026, the EV maker's third-quarter revenue surged 38% to $2.16 billion, prompting an analyst upgrade and a 6.2% stock surge.
On October 30, Rivian Automotive (RIVN) surged 6.20% to close at $12.16 following a strong revenue beat and an upward revision of its full-year guidance. Trading volume spiked to 58.8 million shares, more than doubling its three-month average of 24.1 million shares.
The S&P 500 and Nasdaq Composite both slipped slightly, finishing at 7,580 and 25,437 respectively, after both indexes closed lower on the day.
Analysts were closely watching Rivian's third-quarter earnings report for signs of margin and delivery performance, as the company works to ramp up production of its new R2 SUV. Rivian exceeded expectations on several metrics, with revenue rising 38% to $2.16 billion, surpassing the collective expectation of $1.99 billion.
In anticipation of the earnings release, Jefferies analyst Philippe Houchois upgraded Rivian to a "buy" rating and maintained his price target at $17 per share, citing the company's anticipated production growth as a key driver of stock appreciation.
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