Why Rivian Revved Up the Nasdaq Tuesday
Stocks are trying to make up for lost time, having posted a huge jump on Monday and looking to follow it up with further gains Tuesday morning. As of shortly before 10 a.m. ET, the Nasdaq Composite (NASDAQINDEX: ^IXIC) had risen nearly 3% to build on Monday's performance.
One of the best performers on the Nasdaq early Tuesday was Rivian Automotive (NASDAQ: RIVN), as the electric vehicle specialist was upbeat about its prospects for the remainder of the year, reassuring shareholders. Yet the gains for Rivian paled in comparison to an even larger up move for Poshmark (NASDAQ: POSH), even though some shareholders in the online retail company might not be as happy as you might think about the cause.
Rivian Automotive shares moved higher by more than 7% in early trading Tuesday morning. The electric vehicle (EV) company released its third-quarter production figures and gave an encouraging outlook for the remainder of the year.
Source Fool.com
