Why Rivian Stock Surged Today
Rivian Automotive (NASDAQ: RIVN) popped 10.6% on Monday as investors piled back into the electric vehicle (EV) company's shares.
There doesn't appear to be any company-specific news that spurred Rivian's gains today. However, several factors likely contributed to its sharp upwards move.
Stock trading volumes tend to be lower during the final week of the year, so price movements can be more severe than at times when more shares are traded. Additionally, traders often are more bullish during this time, as they seek to profit from the so-called Santa Claus rally. The stock markets have historically performed well during the five days after Christmas and the first two days of the new year.
Source Fool.com
