Hot discussion on WSB: Electric truck RIVN plunges by 14%, Musk mocks: "About to go bankrupt."
Elon Musk stated that "Saudi Daddy" is the only way for Lucid to survive, and he warned that Rivian Automotive may go bankrupt within 6 quarters.
NVIDIA continues to dominate, surging 14% to a record high in pre-market trading. NVIDIA's earnings report far exceeded expectations, with revenue reaching $22.1 billion this quarter, a 265% increase YoY, surpassing the market's expected $20.4 billion. The revenue guidance for the next quarter is $24 billion (±2%), a 234% YoY increase, exceeding the market's expected $21.8 billion.
Ai newcomer SMCI ranks second in popularity, surging 15% in pre-market trading; AMD ranks ninth, up 6%; chip design company ARM ranks eleventh, up 10%.
Network security stock PANW ranks fifth in popularity, with earnings falling short of expectations, leading to a 28% overnight plunge.
Electric vehicle company RIVN ranks sixth in popularity, with performance below expectations, plunging 14% in pre-market trading. The earnings report shows that the company will produce approximately 57,000 cars this year, roughly the same as in 2023. However, this forecast is significantly lower than the average analyst prediction of over 80,000 cars in 2024.
RIVN faces mockery from Musk, as a user asked Musk about his opinion on Rivian Automotive. Musk responded, "Based on the current trajectory, they will go bankrupt within 6 quarters. Perhaps this trajectory will change, but so far, it hasn't." Another user commented, "It's a pity, their trucks are very popular." Musk replied, "Their product design is good, but the real challenge for an automotive company is to achieve positive cash flow in mass production."
On the same day, electric vehicle company LCID also underperformed, dropping 8% in pre-market trading.
Lunar lander company LUNR ranks eighth in popularity, plummeting 15% overnight but initially surging nearly 20%.
NVIDIA-related stock SOUN continues to make the list, ranking 16th in popularity, rising nearly 9% in pre-market trading.
Data source: apewisdom, the most discussed stocks in the past 24 hours.
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