Why Rivian Stock Rallied Over 13% This Week
Shares of electric truck manufacturer Rivian (NASDAQ: RIVN) rallied 13.3% this week through Thursday trading, according to data from S&P Global Market Intelligence.
Rivian made an interesting announcement regarding the range achieved with its new Enduro drive units on Wednesday. In addition, booming sales from a Chinese electric vehicle (EV) peer lit a fire under the stocks of U.S. EV companies on Tuesday, and positive news on inflation helped as well.
On Tuesday, the U.S. Labor Department released the July jobs report. It showed a big drop in job openings in July from June, and revised the June numbers downward.
Source Fool.com
