Why Rivian Shares Jumped Again Today
Rivian Automotive (NASDAQ: RIVN) shares have been on the move higher, rising double digits over the last five trading days. That trend continued early Thursday with shares jumping as much as 2.5% in early trading. The stock lost some of that gain, however, by 2:02 p.m. EST. At that time, Rivian shares were higher by 1.1%.
The early gains were spurred by a report from analyst Jordan Levy with Truist bank yesterday. Levy released results from a survey his firm performed with potential electric vehicle (EV) buyers that was reported by Barron's. The results showed Rivian is getting better positioned to grow its business on multiple fronts. But other news in the EV sector today may have reminded investors just how difficult growing that business can be.
Source Fool.com
