Why Rivian Stock Moved Higher Today
Shares of electric vehicle (EV) maker Rivian Automotive (NASDAQ: RIVN) were moving higher Wednesday. Rivian shares were up by 2% as of 1:10 p.m. ET. That comes as EV juggernaut is getting closer to offering a competitor to Rivian's R1T pickup truck with its Cybertruck.
Rivian made a move this week it hopes will offset the impacts the Cybertruck may have on demand for Rivian's electric pickup truck.
Starting this week Rivian is now offering a leasing plan for some models of its R1T pickup truck. That might not seem like a major development, but considering the EV manufacturer is still in start-up mode ramping up production, it could be a sign of more good things to come.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 76 Buy predictions and 28 Sell predictions.
With a target price of 247 € there is a positive potential of 27.5% for Tesla Inc compared to the current price of 193.72 €.