Why Rivian Stock Bounced Back Big-Time Wednesday
Shares of electric truck maker Rivian Automotive (NASDAQ: RIVN) took it on the chin yesterday as a "red" stock market spooked investors in volatile growth companies. Worries over rising interest rates may have also caused investors to wonder whether Rivian's business selling $80,000 electric trucks will be viable in the long run.
Lost in all the bad news, however, was some good news for Rivian shareholders: positive notes of support from two of Wall Street's investment banks, which are helping to lift Rivian stock 6.6% through 11:15 a.m. today.
In back-to-back notes, reported on StreetInsider and TheFly, respectively (but apparently unnoticed, or disregarded, by investors in a hurry to sell), the following happened:
Source Fool.com
