Why Rivian Stock Rose on a Down Day
Shares of Rivian Automotive (NASDAQ: RIVN) dropped Tuesday morning along with virtually the entire U.S. stock market. But while declines in the major market indexes accelerated, Rivian shares bounced off from their initial 4.9% drop and were trading 0.9% higher as of 2:41 p.m. ET.
That reversal didn't come from any current news update. But it may have come from some older news that one financial columnist highlighted in a new article today. That news came last week when the U.S.-based electric vehicle (EV) start-up said it was planning to partner with a well-respected global automaker to manufacture electric vans in Europe.
Source Fool.com
