Why Rivian Stock Plunged Today

Rivian Automotive's stock fell 18.12% after the company announced a $1.4 billion capital raise through a 75 million share offering, despite beating Q2 delivery expectations (12,194 vehicles vs. 9,000-11,000 guidance) and raising full-year guidance to 65,000-70,000 deliveries. Investors sold off shares due to concerns about cash burn and shareholder dilution, highlighting the pattern of good news being followed by stock offerings that reverse gains.