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

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Source Fool.com