RIVN Stock News: Rivian jumps higher as electric pickup truck race heats up

NASDAQ:RIVN gained 5.11% during Wednesday’s trading session.
Rivian hits the roads first but Tesla and Ford are not far behind.
Tesla reports its China sales figures and gets a fresh new price target.

Stocks Reporter FXStreet

NASDAQ:RIVN resumed its uphill climb on Wednesday after taking a brief pause during Tuesday’s session. Shares of RIVN gained 5.11% and closed the trading day at $122.12. The broader markets rallied for a third straight day on Wednesday, with the NASDAQ gaining 0.64%, while the Dow Jones and S&P 500 edged higher once again. The EV sector had plenty of buzz on Wednesday after President Biden inked an executive order that will see all 600,000 vehicles in the federal fleet be upgraded to electric vehicles. Another major announcement came after hours when Lucid Group (NASDAQ:LCID) reported a proposed convertible senior note offering in the amount of $1.75 billion that sent shares of Lucid tumbling after the close.

Stay up to speed with hot stocks' news!

Rivian has yet to deliver many vehicles, but its electric trucks look like they will be the first ones on the road in 2022. Tesla (NASDAQ:TSLA) CEO Elon Musk did hint at the long awaited Cybertruck finally getting closer to production, while Ford (NYSE:F) announced it had over 200,000 standing orders for the upcoming Ford F-150 Lightning electric truck. This is all to say that 2022 could be the year of the electric pickup truck, which could have a significant impact on President Biden’s new executive order.

Rivian stock forecast

In other EV news, Tesla reported strong sales in China once again, although a bulk of the models produced at the Shanghai GigaFactory were exported to Europe. When the Berlin GigaFactory opens later this year, it should be able to take some of the pressure off of Shanghai. For its efforts, Tesla received its highest price target yet from New Street Research which provided the stock with a street-high target of $1,580.

Like this article? Help us with some feedback by answering this survey:

Author

Stocks Reporter

FXStreet

GBP/USD flirts with weekly highs in the Fed's aftermath

GBP/USD reversed early losses following the Federal Reserve decision to keep rates on hold and neared the 1.3360 level before shedding some ground. Focus shifts to Governor Kevin Warsh's speech, while the Bank of England will announce its monetary policy decision on Thursday.

EUR/USD extends rally pass 1.1450 on Fed's Warsh

EUR/USD trades at fresh weekly highs above 1.1450, following the Federal Reserve monetary policy decision to keep interest rates on hold. The statement showed policymakers remain confident in economic progress while blaming inflation on energy prices. The divided vote among officials put in doubt a September hike, leading to sharp US Dollar losses.

Gold hovers around $4,100 as Fed decision hits the USD

Gold surged following the Federal Reserve's decision to keep the benchmark interest rate unchanged at 3.50%-3.75%. Policymakers noted that inflation remains elevated and that economic activity is expanding at a solid pace despite elevated uncertainty, spurring doubts about a rate hike in September. XAU/USD peaked above $4,100, now battling to retain the level.

No soft target: Warsh vows to return inflation to 2%

The Fed left interest rates unchanged at 3.50%-3.75%, but the decision carried a distinctly hawkish edge as three officials voted for an immediate 25-basis-point increase. Chair Kevin Warsh reinforced that message, insisting there was no tolerance for a softer inflation target and warning that the Fed would not hesitate to act.

How the CLARITY Act unlocks Wall Street’s tokenization pipeline

The United States (US) Digital Asset Market Clarity Act (CLARITY Act), awaiting a full Senate floor vote, promises to unlock Wall Street’s potential to tokenize financial assets, including equities, US Treasuries, private credit, real estate and commodities at a scale that could supercharge the real-world asset (RWA) market from the current $17 billion level to $5.5 trillion by 2030, according to

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.