Why Rivian Stock Is Soaring Today
Shares of Rivian (NASDAQ: RIVN) are making big gains in today's trading. The electric vehicle (EV) company's stock was up roughly 7.5% as of 3 p.m. EDT Wednesday. Meanwhile, the S&P 500 index climbed roughly 1%, and the Nasdaq Composite index was up roughly 1.9%.
Growth-dependent stocks have seen volatile trading recently, and the market has seen big swings this week. While there doesn't appear to be any fresh, business-specific news driving the company's share price higher, Rivian is benefiting from an uptick in bullish sentiment lifting the broader market.
Image source: Rivian.Media-Rivian Newsroom.
Source Fool.com
