Stock Market Today, July 2: Rivian Jumps on Raised 2026 Delivery Guidance

Rivian Automotive (RIVN) jumped 8.44% to $18.63 on July 2 after the company reported second-quarter deliveries of 12,194 vehicles, exceeding its targets. The EV maker simultaneously raised its full-year 2026 delivery guidance to a range of 65,000-70,000 vehicles, up from the prior 62,000-67,000 forecast.

The upward revision stems from stronger-than-expected demand and the rollout of the R2 SUV, Rivian's next-generation platform designed for broader market appeal. The Q2 delivery beat signals improving execution at a critical juncture as the company scales production and attempts to reach profitability.

The 2026 guidance increase—representing roughly 4.8% at the midpoint—suggests management confidence in sustained order flow and manufacturing ramp. Investors are now pricing in R2 momentum as a key driver, with the model expected to carry lower production costs and wider margins than Rivian's existing R1 lineup.