Why Did Rivian Stock Soar 15% Today?
Rivian Automotive (NASDAQ: RIVN) held its first "Autonomy & AI Day" last week, surprising investors with the news that it had developed its own in-house artificial intelligence (AI) chip. That gave investors a window into the company's path toward offering a fully autonomous vehicle.
Shares have marched higher since that event, including a 15% increase today to close at a 52-week high. Today's move came after one Wall Street analyst noted Rivian's in-house technology and lifted his firm's price target by 78%.
Source Fool.com
