Why Rivian Stock Surged Higher Again Today
Rivian Automotive (NASDAQ: RIVN) stock is on a roll. A recent move higher has gone into overdrive over the past two days. That's because of yesterday's announcement that many investors see as a pivotal moment for Rivian's long-term success.
The company has received a conditional commitment from the U.S. Department of Energy (DOE) for a large loan that should support Rivian into its next phase of growth. That has shares moving higher again today by 3.7% as of 12:15 p.m. ET. The news, combined with progress in the underlying business, has pushed the stock up by over 20% in the past week.
Source Fool.com
