The GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) emerged as one of Thursday morning’s top-performing ETFs, surging more than 20% after shares of Rivian Automotive (NASDAQ:RIVN) climbed around 13% on stronger-than-expected second-quarter deliveries and an upgraded full-year outlook.
Unlike diversified electric vehicle ETFs, which posted relatively modest gains, RVNL amplified Rivian’s rally by seeking to deliver 200% of the daily performance of Rivian stock. The sharp move underscored how single-stock leveraged ETFs can significantly outperform broader sector funds when a company-specific catalyst drives investor sentiment.
Rivian Delivers Beat, Raises Outlook
Rivian said it produced 12,613 vehicles and delivered 12,194 vehicles during the second quarter, comfortably exceeding analysts’ consensus estimate of around 11,000 deliveries and topping the company’s own prior guidance of 9,000 to 11,000 vehicles.
The EV maker also raised its 2026 delivery forecast to 65,000–70,000 vehicles, up from its previous expectation of 62,000–67,000 units, citing stronger-than-expected demand across its lineup.
