Shares of Rivian Automotive (NASDAQ: RIVN) rose 3.5% on Wednesday, furthering the electric vehicle (EV) company's rebound from its recent lows.
In the excitement surrounding its initial public offering (IPO) on Nov. 10, Rivian's stock soared as high as 130% in the days following its market debut. But its shares went on to plummet in the weeks that followed. At its lows earlier this month, the stock was down a stunning 58% and trading below its IPO price.
Rivian's R1T electric pickup. Image source: Rivian Automotive.
Source Fool.com