Why Did Rivian Stock Pop Then Drop Today?
Shares of widely followed electric vehicle (EV) start-up Rivian Automotive (NASDAQ: RIVN) seem to be following a bit of a trading pattern. That would help explain why the stock jumped by more than 5% on Wednesday, before losing those gains and moving into the red. As of 3 p.m. ET, Rivian shares were down 1.7% for the day.
A report from Bloomberg seems to have noticed the pattern with Rivian stock. And it's not unique to the EV maker, but has affected more and more names since early in 2021. The retail trading crowd that created the meme stock genre could be at work.
Image source: Rivian Automotive.
Source Fool.com
