Why Rivian Shares Shot Higher Today

Shares of Rivian Automotive (NASDAQ: RIVN) spiked higher Tuesday morning after the EV start-up released its third-quarter production update. As of 10:45 a.m. ET, the stock was up 9.9%. 

Rivian produced 7,363 units in the third quarter and delivered nearly 6,600 of them. That represents an increase of 67% over Q2 production and keeps the EV maker on pace to finish the year having produced the 25,000 electric trucks it has as its goal. 

Image source: Rivian Automotive.

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Source Fool.com