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Why Rivian Stock Is Jumping Another 10% Today

TheMotleyFool

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Why Rivian Stock Is Jumping Another 10% TodayPhoto, wide shot, wide-angle lens, Automotive service center, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/c8dbaa5e-abdb-40ac-b919-ed80785b056a.png

After hitting their all-time low earlier this week, shares of Rivian Automotive (NASDAQ: RIVN) are bouncing higher today. The stock gained as much as 11.4% today, and still sits 9.7% above yesterday's closing share price, as of 2:42 p.m. ET.

The rebound comes as some investors seem to feel the recent low marked a bottom for the stock. One big stock buy this week was reported by Rivian CEO RJ Scaringe. Following that news, Deutsche Bank analyst Emmanuel Rosner reiterated a buy rating on the stock, with a price target representing 153% upside to Rivian's closing price on Wednesday.

Source Fool.com

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