Shares of Rivian Automotive Inc. RIVN fell 0.8% toward a third-straight loss in premarket trading Monday, after Tesla Inc.’s TSLA first Cybertruck was rolled off the assembly line over the weekend. Rivian’s stock has shed 4.2% over the past two sessions, after closing July 12 at a seven-month high. “We see competitive pricing and specs for the Cybertruck as a fundamental and headline risk to [Rivian],” wrote Baird analyst Ben Kallo in a note to clients. Kallo added that he was “cautious” on Rivian’s stock ahead of second-quarter results, due out Aug. 8, given concerns over costs of development of the electric vehicle maker’s Georgia facility. Rivian’s stock has run up 80.8% over the past three months, while Tesla’s stock, which rose 1.7% in ther premarket, has run up 50.4% and the S&P 500 SPX has gained 7.1%.
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