Rivian Automotive Cuts Production Outlook, Joins EVgo And Other Big Stocks Moving Lower In Friday's Pre-Market Session

U.S. stock futures were higher this morning, with the Dow futures gaining over 50 points on Friday.

Shares of Rivian Automotive, Inc. RIVN fell sharply in today's pre-market trading after the company lowered its annual production guidance due to supply shortage of shared component on the R1 and RCV platforms.

The company produced 13,157 vehicles at its manufacturing facility in Normal, Illinois, and delivered 10,018 cars during the same period. Rivian is experiencing a supply shortage that began in the third quarter of this year and has intensified in recent weeks.

Rivian Automotive shares dipped 6.8% to $10.05 in pre-market trading.

Here are some big stocks recording losses in today's pre-market trading session.

• Sage Therapeutics, Inc. SAGE shares declined 11.3% to $6.20 in pre-market trading.
• ZIM Integrated Shipping Services Ltd. ZIM shares dipped 7% to $20.17 in pre-market trading after falling around 7% on Thursday.
• Hyliion Holdings Corp. HYLN shares fell 5.7% to $2.3290 in pre-market trading. Hyliion recently announced its KARNO linear generator now qualifies under California’s renewables portfolio standard.
• Phibro Animal Health Corporation PAHC shares fell 5.4% to $20.00 in pre-market trading,
• AMTD Digital Inc. HKD shares fell 5.2% to $4.95 in pre-market trading after jumping over 33% on Thursday.
• EVgo, Inc. EVGO shares declined 4.4% to $6.04 in pre-market trading. EVgo shares jumped more than 60% on Thursday after the company announced it received a $1.05 billion conditional commitment for a Department of Energy (DOE) loan guarantee to accelerate the buildout of public fast charging across the US.

Now Read This:

• Dow Tumbles Nearly 200 Points Amid Growing Middle East Concerns: Investor Optimism Declines, Fear Index Remains In ‘Greed’ Zone