Rivian stock is rebounding Thursday morning following the news that reservations for its electric trucks have been increasing, despite recent price hikes and production issues. The average price for the additional vehicles reserved was $93,000 and Scaringe said it currently has a total of over 90,000 reservations. Rivian built 2,553 vehicles in the first quarter and approximately 5,000 since production began last year. The company reported a loss of $1.43 per share that just missed analysts' estimates. Rivian stock was trading above $25 on Thursday morning, down from an all-time high of $179.47 shortly after its IPO last year.

Source: Fox News May 12, 2022 20:57 UTC