Rivian Stock Drops 9% as Equity Raise Follows Delivery Forecast Boost

Rivian launched a 75-million-share offering on July 6, 2026, four days after raising its full-year delivery guidance to 65,000–70,000 vehicles and forecasting quarterly revenue above estimates. The stock fell 9% in extended trading. The sequencing reads to investors as the company capitalizing on strength before momentum fades—a familiar narrative that overshadows operational beat and weighs dilution more than demonstrated demand growth.