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Why Rivian Stock Was Electric This Week

TheMotleyFool

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Why Rivian Stock Was Electric This WeekPhoto, wide shot, wide-angle lens, soft focus, Car manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-YEvJ4lsD0cnHYMSisqF0KmhC.png?st=2023-12-29T13%3A52%3A04Z&se=2023-12-29T15%3A52%3A04Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-12-29T03%3A19%3A21Z&ske=2023-12-30T03%3A19%3A21Z&sks=b&skv=2021-08-06&sig=cgEmp8qYLk6LiC9uwJEp9XOt32ky3AObpdzG41upqzc%3D

Shares of the electric vehicle (EV) maker Rivian Automotive (NASDAQ: RIVN) accelerated this week after the company announced a new joint venture with , which gives Rivian an initial $1 billion in cash.

That was the main headline for Rivian this week, but the company's stock also benefited from an analyst initiating coverage of Rivian's stock and slapping a buy rating on it.

The combined news put Rivian's stock into fifth gear, rising 40.2% as of Thursday afternoon, according to data provided by S&P Global Market Intelligence

Source Fool.com