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Why Rivian Shares Popped Today

TheMotleyFool

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Why Rivian Shares Popped Today: https://g.foolcdn.com/editorial/images/726355/rivian-r1t-2022.jpeg

Rivian Automotive (NASDAQ: RIVN) stock jumped out of the gate on Wednesday morning. Shares were higher by as much as 9.4%, and held on to a gain of 7.9% as of 11:15 a.m. ET. Shareholders likely have some of Rivian's peers to thank for the rise.

Rivian didn't have any specific news, but two items of note from competitors has investors liking Rivian more today. Rivian offers luxury, adventure-oriented electric vehicles (EVs). The average price of the more than 20,000 EVs it delivered in 2022 was over $80,000.

Image source: Rivian Automotive.

Source Fool.com

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