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Tesla has been forced to delay the release of its own pickup, the Cybertruck, on several occasions and it isn’t expected to hit the market until 2023. Farley said ‘take that, Elon Musk’ when discussing Ford’s F-150 Lightning electric truck that has become a favourite in the US. Ford president and CEO Jim Farley took a pop at Tesla for losing the race to release an all-electric pickup truck at an event to unveil a clean energy deal with DTE Energy. Tesla shares are up 1% in premarket trade. RBC trimmed its view to $75 from $77, DA Davidson upped its target to $27 from $24, and Wells Fargo bumped-up its price to $35 from $30. Several brokers tweaked their target price this morning. Rivian will continue to burn through cash, although analysts remain convinced it has enough cash to last until at least the end of 2023. Rivian needs to produce around 18,000 cars in the second half to meet its goal and there will still be nerves around this as it assumes supply chain woes will ease. Demand continued to grow despite recent price hikes and the focus will remain on ramping-up output considering it has 98,000 orders on its books. However, Rivian did warn that it will report a larger adjusted Ebitda loss of around $5.45 billion in 2022, having originally expected a loss of $4.75 billion. Revenue of $364 million in the quarter was ahead of the $337.5 million forecast. Investors were worried it could slash its target after supply chain disruption prompted fellow startup Lucid Group to more than halve its production goal for this year.

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Rivian shares are trading up 1.9% this morning at $39.69, marking a new four-month high, after sticking to its ambitious plan to produce 25,000 vehicles in its first full year of production in 2022 and beating sales expectations in the second quarter.

Exchange-Traded Funds (ETFs) have been excluded. Below is a list of the top 10 most mentioned US stocks on the WallStreetBets thread on Reddit over the last 24 hours on August 12, 2022, according to data from Quiver Quantitative.