RIVN Stock News: Rivian extends rebound as EV sector rises with Tesla

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.

Stocks Reporter FXStreet

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:

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

GBP/USD declines as market caution lifts US Dollar

GBP/USD extends its gains for the second successive day, trading around 1.3200 during the Asian hours on Wednesday. The currency pair depreciated as the US Dollar gained momentum, driven by a combination of robust domestic economic data and a complex, mixed geopolitical landscape.

EUR/USD weakens below 1.1400 as Fed hike bets lift US Dollar

The EUR/USD pair trades on a negative note near 1.1380 during the early Asian trading hours on Wednesday. The major pair extends the decline as traders continue to assess the developments surrounding the US-Iran peace deal.

Gold nurses losses near $4,100 as Fed hike bets support USD

Gold recovers slightly from a fresh two-week low, near $4,070 touched during the Asian session on Wednesday, though it lacks follow-through. The US Dollar stands firm near its highest level since May 2025 amid firming expectations of a Fed rate hike, which, in turn, is seen undermining the non-yielding bullion. Furthermore, mixed US-Iran signals further favor the USD bulls.

Global strategy 3Q 2026

With the signing of a framework agreement and subsequent negotiations between the U.S. and Iran in June, the outlook for the third quarter is favorable. Oil prices have already fallen sharply, and futures are pricing in a further decline over the course of the year. This will ease the burden on consumers and reduce uncertainty among businesses, with positive effects on the economy.

"Rearranging the deckchairs on the Titanic": UK's fiscal crisis outlasts another Prime Minister

Keir Starmer's resignation as the UK Prime Minister comes ten years after the Brexit referendum vote, a coincidence that financial markets have been quick to note. The British Pound trades around 1.3220 against the US Dollar on Thursday.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.