Why Rivian Stock Popped on Thursday
Shares of electric truck manufacturer Rivian Automotive (NASDAQ: RIVN) tumbled 2.4% on Wednesday, only to spin around and race ahead 4.6% on Thursday (as of 10:55 a.m. ET).
Curiously, the report that seems to have inspired this turnaround (a positive report from Morgan Stanley) actually came out yesterday -- but was immediately drowned out by news of another 0.25% interest rate hike at the Federal Reserve, and by Treasury Secretary Yellen's disclaimer of a plan to expand bank customers' deposit insurance. Investors couldn't really focus on Rivian's good news yesterday with so much bad news still ringing in their ears.
But perhaps today they can.
Source Fool.com
