Rivian Automotive shares fall 4.77% premarket after reporting higher-than-expected quarterly loss and supply chain disruptions.

Rivian Automotive, Inc. fell 4.77% in premarket trading. The decline can be attributed to the company reporting a higher-than-expected quarterly loss due to supply chain disruptions and increased costs from rare earth metals. Additionally, Rivian's cost of revenue per vehicle rose by 8%, further impacting its financial performance.