Rivian Automotive Inc (NASDAQ:RIVN) shares are trading higher on Thursday as traders look past dilution worries tied to the company’s underwritten public offering.

What Is Rivian’s Latest Public Offering Impact?

Rivian this week announced an underwritten public offering of 75 million shares of common stock at $15.50 per share, raising about $1.2 billion. The company also granted underwriters a 30-day option to purchase up to an additional 11.25 million shares.

The company said it expects to use proceeds for general corporate purposes, including funding certain equity contributions tied to an amended loan arrangement and related support agreement with the U.S. Department of Energy.

At Monday’s close of $20.14, selling the full 86.25 million shares implies up to about $1.74 billion in gross proceeds, putting a concrete number on the dilution-versus-liquidity tradeoff. Rivian also said the company ended Q1 with about $4.83 billion in cash, cash equivalents and short-term investments.

RIVN Stock: Key Technical Levels To Watch

Thursday’s push has the stock trading above every major moving average, with price about 9% above the 20-day SMA ($16.44) and roughly 13% above the 200-day SMA ($15.86), which keeps the intermediate trend pointed higher. The catch is the bigger-picture "death cross" from May (50-day SMA below the 200-day SMA) is still in place, so longer-term trend followers may want to see that fully unwind before calling it a clean trend reversal.

Momentum is improving: the MACD is above its signal line and the histogram is positive, which typically suggests downside pressure is fading and buyers are gaining control versus the prior downswing. In plain English, MACD compares two moving averages, and being above the signal line often means momentum is turning more constructive.

  • Key Resistance: $18.00 — a nearby round-number area where rebounds can stall
  • Key Support: $15.50 — a nearby floor close to the 50-day SMA ($15.67) and 200-day EMA ($15.56), making it a logical "line in the sand"

What Is Rivian Automotive’s Business Model?

Rivian is a battery electric vehicle automaker selling vehicles in the U.S. and Canada, with a lineup that includes a luxury truck, a full-size SUV, and a delivery van. It also develops electronic control units and related auto software through a joint venture with Volkswagen, giving it another lever beyond just vehicle sales.

The offering matters because Rivian is still in build-and-invest mode, and funding flexibility can shape how quickly it scales production, software, and new programs. The company plans to begin selling a midsize SUV in 2026, delivered over 42,000 vehicles in 2025, and is also developing autonomous driving software intended for its vehicles and for robotaxis on the Uber ride-hailing network.

RIVN Earnings Preview: What Analysts Expect

Looking further out, the next major catalyst for the stock arrives with the July 30, 2026 (confirmed) earnings report.

  • EPS Estimate: Loss of 79 cents (Up from loss of 97 cents YoY)
  • Revenue Estimate: $1.44 Billion (Up from $1.30 Billion YoY)

Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $20.40. Recent analyst moves include:

  • BNP Paribas: Outperform (Raises Target to $24.00) (July 8)
  • Jefferies: Hold (Raises Target to $17.00) (July 7)
  • Needham: Buy (Maintains Target to $23.00) (June 10)

Rivian Automotive Benzinga Edge Score Overview

Below is the Benzinga Edge scorecard for Rivian Automotive, highlighting its strengths and weaknesses compared to the broader market:

  • Momentum: Neutral (Score: 46.34) — The stock’s trend is improving, but the score suggests it’s not yet in clear market-leading territory.

The Verdict: Rivian Automotive’s Benzinga Edge signal reveals a momentum-leaning setup that’s improving, but still closer to the middle of the pack than a breakout leader. For longer-term traders, that often means waiting for follow-through above resistance while keeping an eye on support near the major moving averages.

RIVN Stock Price Movement on Thursday

RIVN Stock Price Activity: Rivian Automotive shares were up 7.20% at $17.86 at the time of publication on Thursday, according to Benzinga Pro data.

Read Also: IBM Stock Drops After Report That Starbucks Is Using AI to Cut Its $400 Million Software Bill

Image: Shutterstock