RIVN Stock News: Rivian extends rebound as EV sector rises with Tesla
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UPGRADE- NASDAQ:RIVN gained 3.51% during Wednesday’s trading session.
- The electric truck industry is getting crowded as legacy automakers move in.
- General Motors is looking to put a new electric truck on the moon.
NASDAQ:RIVN managed to climb higher for a second straight day on Wednesday as the EV sector continued to fight back from its recent beat down. Shares of Rivian gained 3.51% and closed the trading session at $86.48. The markets managed to close higher for the second straight day as all three major indices finished in the green at the closing bell. The S&P 500 led the way gaining 0.28%, while the NASDAQ rose for the third consecutive day to start the week. Investors shrugged off the rising inflation report that showed historic levels of gains although those mostly fell within the range of analyst expectations.
Stay up to speed with hot stocks' news!
Rivian is fresh off its 2021 vehicle deliveries report which does it officially make it the first mover in the electric truck industry. Unfortunately for Rivian, this sector is about to get really crowded, really fast. Aside from Tesla’s (NASDAQ:TSLA) long-awaited Cyber Truck, General Motors (NYSE:GM), Ford (NYSE:F), and Dodge are all ready to unleash their popular truck models to the consumer market. Dodge and Stellantis famously just partnered with Rivian’s largest investor Amazon (NASDAQ:AMZN), to create a new electric delivery truck that will serve as direct competition to Rivian.
RIVIAN stock forecast
Speaking of General Motors, the legacy automaker has new plans for its line of electric vehicles. But this isn’t the unveiling of the new Silverado EV. The company is planning an LTV or Lunar Terrain Vehicle, which is a new name for the next generation of moon rovers. As of now this is just a prototype, so nothing is set in stone yet but it is interesting to see the different segments of the automotive industry that are turning to electrification technology.
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- NASDAQ:RIVN gained 3.51% during Wednesday’s trading session.
- The electric truck industry is getting crowded as legacy automakers move in.
- General Motors is looking to put a new electric truck on the moon.
NASDAQ:RIVN managed to climb higher for a second straight day on Wednesday as the EV sector continued to fight back from its recent beat down. Shares of Rivian gained 3.51% and closed the trading session at $86.48. The markets managed to close higher for the second straight day as all three major indices finished in the green at the closing bell. The S&P 500 led the way gaining 0.28%, while the NASDAQ rose for the third consecutive day to start the week. Investors shrugged off the rising inflation report that showed historic levels of gains although those mostly fell within the range of analyst expectations.
Stay up to speed with hot stocks' news!
Rivian is fresh off its 2021 vehicle deliveries report which does it officially make it the first mover in the electric truck industry. Unfortunately for Rivian, this sector is about to get really crowded, really fast. Aside from Tesla’s (NASDAQ:TSLA) long-awaited Cyber Truck, General Motors (NYSE:GM), Ford (NYSE:F), and Dodge are all ready to unleash their popular truck models to the consumer market. Dodge and Stellantis famously just partnered with Rivian’s largest investor Amazon (NASDAQ:AMZN), to create a new electric delivery truck that will serve as direct competition to Rivian.
RIVIAN stock forecast
Speaking of General Motors, the legacy automaker has new plans for its line of electric vehicles. But this isn’t the unveiling of the new Silverado EV. The company is planning an LTV or Lunar Terrain Vehicle, which is a new name for the next generation of moon rovers. As of now this is just a prototype, so nothing is set in stone yet but it is interesting to see the different segments of the automotive industry that are turning to electrification technology.
Like this article? Help us with some feedback by answering this survey:
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