Rivian Stock Is Tumbling After Earnings. Why Wall Street Isn’t Worried.

Electric truck start-up

Rivian Automotive

expects to deliver 50,000 units in 2023, while Wall Street was looking for closer to 60,000 units. Shares were falling early on Wednesday.

Rivian (ticker: RIVN) reported fourth quarter numbers after the close of trading Tuesday. The company lost $1.87 a share on sales of $663 million. Wall Street had been looking for a loss of $2 a share on sales of just under $800 million.