RIVN is trading 8.9% down at $18.34 in pre-market after the company announced a 75 million share offering, raising concerns about dilution. This significant equity offering, which could raise approximately $1.5 billion, is the primary catalyst for today's sharp pullback, rather than solely profit-taking. The announcement comes after a robust rally driven by stronger-than-expected Q2 deliveries and an increased 2026 delivery forecast.