Why Rivian Stock Bounced Back on Thursday
No sooner had the news broke that electric truck start-up Rivian Automotive (NASDAQ: RIVN) has suffered another fire at its Illinois factory, than the second shoe dropped: Investment bank D.A. Davidson just started coverage of Rivian stock with an underperform rating and a $24 price target that implies it could fall as much as 24%.
But instead of going down today, Rivian stock was up 7.7% as of 1:40 p.m. ET. Bad news, and a stock goes up? How does that work?
A Rivian R1T electric pickup. Image source: Rivian.
Source Fool.com


