Why Rivian Stock Is Climbing Today
The share price of Rivian Automotive (NASDAQ: RIVN), an electric vehicle (EV) company, skyrocketed this morning on seemingly no company-specific news. Instead, investors may be taking a second look at the EV stock and seeing a buying opportunity after its share price plummeted over the past six months.
Rivian was up by 10.6% as of 11:40 a.m. ET.
Its share price has fallen 49% over the past six months as many investors have fled high-growth stocks -- and EV stocks in particular -- as they've processed information about sky-high inflation, interest rate increases by the Federal Reserve, and the war in Ukraine.
Source Fool.com
