Rivian Automotive stock is among today’s top performers. What’s behind RIVN gains?
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 WatchThursday’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.
