Rivian's Stock Stumbles as New Share Offering Follows Upbeat Forecast

Rivian sold 75 million new shares on July 6, just four days after lifting its delivery forecast to 65,000–70,000 vehicles for the year. The stock fell 9%. Investors read the timing as the company seizing strength before it erodes—a sign that dilution (new shares spreading existing ownership thinner) outweighs the operational improvement in their minds.