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Why Rivian Stock Raced Higher Again Today

TheMotleyFool

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Why Rivian Stock Raced Higher Again TodayPhoto, wide shot, wide-angle lens, soft focus, Car rental company, sunset photo at golden hour, photo by Art Wolfe: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-Ew7cRec38UnlyYzs41FVEri5.png?st=2023-12-29T14%3A03%3A41Z&se=2023-12-29T16%3A03%3A41Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-12-29T15%3A03%3A25Z&ske=2023-12-30T15%3A03%3A25Z&sks=b&skv=2021-08-06&sig=vZPI3wL5I%2BC5Zknik6hYtwmYdTdsE1ct/DM1evRA8EI%3D

Rivian Automotive (NASDAQ: RIVN) launched two new vehicle models yesterday, and the stock is still accelerating higher Friday morning. It wasn't just about the new R2 and surprise unveiling of the future R3 models helping to drive the stock higher again today, though.

As of 10:15 a.m. ET, Rivian shares were trading 7.1% higher, even after the stock jumped more than 13% yesterday.

Rivian is trying to fill a popular slot for consumers looking to transition to electric vehicles (EVs). It started with the R1 platform full-size pickup truck and SUV models. Yesterday, the company unveiled its next-generation R2 vehicle that will cater to the popular midsize SUV auto segment.

Source Fool.com

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