Rivian Automotive Inc ( RIVN ) shares are trading lower Friday, continuing a pullback that began Thursday and erasing strong mid-week gains. Here’s what investors need to know.

RIVN is encountering selling pressure. Get the latest updates here.

What To Know: The stock surged earlier in the week after Rivian reported impressive third-quarter results. The EV maker beat revenue expectations, posting $1.56 billion, and announced its first-ever consolidated gross profit of $24 million.

Alongside the strong earnings, Rivian revealed it is spinning off its new industrial AI and robotics unit, Mind Robotics. The new company has secured $110 million in external seed capital, with Rivian retaining a 40.6% minority interest.

Despite this positive momentum, the rally reversed on Thursday. The sell-off came amid a broader market downdraft, profit-taking and cautious remarks from Chicago Fed President Austan Goolsbee regarding future interest rate cuts.

Potentially adding to the pressure, following the earnings report, Goldman Sachs maintained its Neutral rating on the stock but cut its price target from $15 to $13.

Benzinga Edge Rankings: According to Benzinga Edge rankings, Rivian stock shows very strong momentum with a score of 80.95 and a positive price trend across short, medium and long terms.

RIVN Price Action: Rivian Automotive ( RIVN ) shares were down 4.13% at $14.59 at the time of publication on Friday, according to Benzinga Pro data.

Read Also: Amazon Dumps AMD Stock, Doubles Down On Rivian — Betting Wheels Will Beat Wires

How To Buy RIVN Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Rivian Automotive’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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