Rivian Makes Surprising EV Stock Climb | News

 

| by Luxx House |

Tesla isn’t the only EV maker experiencing a post-election rally. Shares of California-based Rivian rallied to one of their best days ever on Friday, surging 24%.

The upward trajectory defies initial Wall Street concerns about President-elect Donald Trump’s reported intention to cut a federal subsidy for electric vehicles. But last week the automaker revealed slightly better fourth-quarter car deliveries than analysts expected. Rivian’s stock is up 54% since election day, outperforming every other stock besides Tesla and Palantir.

The purchase of most Rivian vehicles qualifies for a $3,750 federal tax credit, but if Trump repeals such a subsidy, it could hurt EV demand and effectively increase the sticker price. According to Robinhood, shares for the automotive EV brand are currently at $16, is this a company you would invest in or already have? Let us know in the comments.