Why Rivian Shares Jumped This Week
Rivian Automotive (NASDAQ: RIVN) stock may be down over 50% so far in 2022, but some investors believe that has been enough of a drop to make it time to buy. Rivian stock has bounced off its all-time low below $35 per share two weeks ago and has been climbing ever since. It's jumped 40% since then, including another 9% in early-Friday trading this week, according to data provided by S&P Global Market Intelligence.
One reason investors may be buying in at recent price levels is the discount they are getting compared to several well-known Wall Street whales who disclosed they made purchases in the fourth quarter of 2021.
If successful billionaire investors like George Soros and Dan Loeb are right about their investment in Rivian, recent buyers will get even better returns, as the price has dropped this year. And though there have been some early missteps, there does look to be plenty of potential ahead for Rivian.
Source Fool.com
