Why Rivian Shares Continued to Soar Monday

Shares of newly public electric vehicle (EV) start-up Rivian Automotive (NASDAQ: RIVN) continued to soar Monday to start its first full week of trading after its initial public offering last Wednesday. As of 11:25 a.m. EST today, Rivian shares were up another 11.5%, bringing their gains to over 40% since its debut. 

In addition to continued excitement over the company's plans to supply Amazon (NASDAQ: AMZN) with 100,000 electric delivery trucks, today's move might also be driven by news that the company is already looking into expanding its manufacturing footprint with a new plant in Georgia. 

The Rivian R1T pickup truck and R1S utility vehicle. Image source: Rivian Automotive.

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Source Fool.com