Why Rivian's Stock Is Rising Today
Heading for the exit ramp yesterday, investors eagerly clicked the sell button on shares of Rivian (NASDAQ: RIVN) after learning of the company's massive recall. Today, however, a contrarian opinion from Wall Street is motivating investors to park the electric vehicle stock in their portfolios.
As of 12:02 p.m. ET, shares of Rivian are up 4.7%.
While many found news of Rivian's recall disconcerting, an analyst's commentary is encouraging investors to hitch a ride with the EV manufacturer. Having consulted with Rivian's management, Vijay Rakesh, an analyst at Mizuho, believes that the doubt that echoed through the market yesterday is overdone and that the recall is not ruinous for the company's prospects.
Source Fool.com
