Why Rivian Stock Jumped Today
Investors in the electric vehicle (EV) sector have been watching Rivian Automotive (NASDAQ: RIVN) closely over the last year. Its product lineup and ties to package delivery giant Amazon have helped it stand out as a potentially highly successful EV start-up.
Now the company has scheduled a big update on its technology, and that's helping push shares higher. Rivian stock jumped as much as 6.5% this morning and remained higher by 3.3% as of 11:30 a.m. ET.
Rivian just announced it will hold its long-awaited initial introduction of the next-generation R2 EV platform on March 7. The reveal event will be the first time consumers and investors will get details surrounding the R2. It is expected to be the platform that Rivian will use to offer lower priced vehicles with more mass market appeal.
Source Fool.com
