Rivian Stock Is Down on Delivery Disappointment. Wall Street Is Staying Bullish.

Electric truck startup

Rivian Automotive

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

Rivian (ticker: RIVN) reported fourth quarter numbers after the close of trading Tuesday. The company reported a fourth-quarter loss of $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.