Why Rivian Stock Popped, Dropped, Then Recovered Today
Investors are digesting a flurry of news surrounding electric vehicle (EV) maker Rivian Automotive (NASDAQ: RIVN). It seems the market doesn't know what to make of the mixed bag of information either.
Rivian shares jumped as much as nearly 6% early today before turning negative by 3%. As of 10:55 a.m. ET, the stock had recovered and was trading higher by 3.2%.
The big news from the EV start-up today was a commitment for a conditional loan of up to $6.6 billion from the U.S. Department of Energy (DOE). That funding, coming through a DOE manufacturing loan program, would help the company with the construction of a planned new production plant in Georgia.
Source Fool.com
