Rivian Stock Soared Today: Is the Market Overreacting?
Investors have been keen on Rivian Automotive (NASDAQ: RIVN) over the past two days and have pushed the company's share price up 11% today alone. The recent share price jump is a welcomed change after the electric vehicle (EV) stock plummeted 64% over the past three months.
Investors are likely pushing Rivian's stock higher as other EV stocks -- mainly Chinese automakers -- are rising today. Some investors may also be still processing the news that Rivian just hired a chief operations officer to help the company ramp up its vehicle production.
But are those two bits of news worthy of investors' renewed optimism in Rivian? Probably not on their own.
Source Fool.com
