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
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