RVNL ETF surged over 20% after Rivian beat Q2 delivery estimates and raised its full-year delivery outlook, sending RIVN stock sharply higher.

The company now expects to ship a few thousand more vehicles by the end of 2026 than it previously expected, after launching its R2 SUV last month.

Deliveries improved by 14.4% year over year despite the loss of the tax credit. But the company says the best is yet to come.