RIVN Stock Surges For 8th Straight Day: Rivian’s Rival To Tesla Model Y Nears June 9 Delivery Kickoff

• The R2, priced from approximately $45,000 for the cheapest variant, is Rivian’s first mass-market model. 
• Rivian’s other offerings, including the R1T electric truck and the R1S electric SUV, are priced above $70,000 and cater to a more premium customer base. 
• Deliveries will commence with the Performance variant of the vehicle.

Shares of Rivian Automotive Inc (RIVN) jumped 3% on Monday after the company said that it will start delivering its new R2 midsize SUV to customers starting June 9.

The company announced the date in a post on X, while adding that hundreds of Rivian team members have already taken delivery of their vehicles. June 9 would mark the onset of deliveries to customers outside of the company of the vehicle expected to boost the company’s total addressable market.

If Monday’s gains hold, RIVN stock would clock eight consecutive days of closing in the green.

High Hopes On R2

The R2, priced from approximately $45,000 for the cheapest variant, is Rivian’s first mass-market model and is designed to compete directly with vehicles like the Tesla Model Y. The company received more than 100,000 reservations for the vehicle after its unveiling last year.  

R2’s online configurator now shows three variants, namely standard, premium, and performance, priced between $48,490 and $57,990. Deliveries will commence with the Performance variant, followed by the Premium variant slated for later this year, and the Standard variant, which is slated to be launched next year.

For the whole of 2026, Rivian now expects to deliver 62,000-67,000 vehicles, up from the 42,247 vehicles delivered in 2025. However, the ramp of R2 delivery will be “back-half weighted,” according to Rivian CFO Claire McDonough.

Rivian’s other offerings, including the R1T electric truck and the R1S electric SUV, are priced above $70,000 and cater to a more premium customer base.

How Did RIVN Retail Traders React?

On Stocktwits, the retail sentiment around RIVN stayed in ‘bullish’ territory over the past 24 hours, while message volume jumped from ‘normal’ to ‘high’ levels.

A Stocktwits user expressed optimism for Tesla buyers jumping on the Rivian bandwagon.

Another user voiced hopes for the stock rallying as high as $25/share.

According to data from Koyfin, 11 of the 26 analysts covering RIVN rate it ‘Buy’ or higher, while 10 rate it ‘Hold’ and five rate it ‘Sell’ or ‘Strong Sell.’ The 12-month average price target on the stock is $18.15, representing a potential upside of about 11% from the last close.

RIVN stock has gained 20% over the past 12 months. 

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