Good Morning, Rivian NASDAQ: RIVN caught the market’s attention when it announced Q3 deliveries and set the date for earnings reporting. The company outpaced expectations and reiterated its guidance, which was viewed cautiously by some. That view was affirmed with the Q3 report, which includes multiple catalysts for higher share prices. Among them are outperformance, a narrowing loss, improved guidance, and the news that could launch this stock to multi-year highs. Rivian ended its exclusivity contract with Amazon. Rivian ended its exclusivity contract with Amazon, allowing it to sell EV delivery vans to the broad market. This news opens up a $160 billion market growing at a mid-single-digit CAGR that is rapidly turning to EVs. Class 4 EV sales are expected to grow more than 1000% over the next decade at a 33% CAGR, with Rivian in the lead. Other manufacturers, such as Workhorse Group and Mullen Automotive, are also in this market and gaining traction but don’t have the leadership position or moat of Rivian. Regarding its moat, Rivian is in production now with a proven fleet of vehicles. Amazon has more than 10,000 units operating in 1,800 cities globally. The core of its deal with Rivian remains intact and is on track to put over 100,000 vans on the road. Because the company’s revenue is tracking to average roughly $5 billion annually for 2023/2024, this is a significant opportunity. A single percentage point in market share gain is worth about $1.6 billion of the 2023 market or about 33% in revenue growth for Rivian.
Click here to learn more about Rivian's recent surge. 
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