Rivian is burning cash and may be years away from a significant recovery.
Rivian reported mixed quarterly results for the first quarter, but will see further cost savings from shifting its upcoming R2 production to its Normal, Ill., plant and trimming its capital expenditure forecast.
Shopify stock slumps after the e-commerce company posts a surprise loss and warns that the sale of its logistics business will weigh on second-quarter revenue growth, Uber swings to a first-quarter loss, and Lyft’s quarterly revenue jumps 23%.