Why Rivian Stock Powered Higher Friday
Rivian Automotive (NASDAQ: RIVN) shares continued to march higher today, extending double-digit gains for the week. After jumping nearly 5%, as of 10:50 a.m. ET Friday morning Rivian shares were still higher by 2.4% today. The stock has risen more than 10% for the week.
Investors are looking to the company's future and feeling more optimistic this week. That feeling was boosted by an announcement from the company yesterday regarding its future plans.
Rivian named the plant manager for its important Georgia manufacturing plant as it gets closer to the construction phase. The company said Arnhelm Mittelbach joined Rivian this week, and will now be in charge of the Georgia facility that is set to begin construction in the coming months.
Source Fool.com