RTTNews | Dec 17, 2021 10:07AM EST

10:07 Friday, December 17, 2021 (RTTNews.com) - Shares of Rivian Automotive, Inc. (RIVN) are slipping nearly 12% on Friday morning after the electric-truck start-up company reported its first quarterly results as a public listed company.

RIVN is currently trading at $95.90, down $12.97 or 11.91%, on the Nasdaq.

Rivian reported a loss of $1.23 billion or $12.21 per share, wider than last year's loss of $288 million or $2.88 per share last year. Analysts polled by Thomson expected a loss of $1.55 per share.

Moving forward, the company said it is "incredibly focused on ramping our production output to get vehicles to our excited customers. We expect to be a few hundred vehicles short of our 2021 production target of 1,200."

Read the original article on RTTNews ( https://www.rttnews.com/3250289/rivian-down-12-after-reporting-its-first-quarterly-results-as-public-co-cuts-production-outlook.aspx)

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