Why Rivian Stock Is Unstoppable Today
After plunging to all-time lows yesterday, Rivian Automotive (NASDAQ: RIVN) stock made a solid comeback this morning and is shooting to the moon. As of 11 a.m. ET Thursday, Rivian shares were jumping as high as 26%.
The electric vehicle (EV) manufacturer that's been hitting the headlines for all the wrong reasons lately released its first-quarter numbers after market close Wednesday, and it dispelled investors' biggest fear.
A company that misses earnings estimates usually sees its stock drop hard after earnings are announced. Rivian generated $95 million in revenue in the first quarter versus analysts' estimates of roughly $130.5 million. The EV stock still surged. Here are four reasons why.
Source Fool.com
