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Stock impact report

Why Is Rivian (RIVN) Stock Soaring Today [Yahoo! Finance]

Rivian Automotive, Inc. (RIVN) 
Company Research Source: Yahoo! Finance
Wedbush analyst Dan Ives maintained an "Outperform" rating on the electric vehicle maker but raised the price target by over 56% to $25.00, signaling strong confidence. This move followed an upgrade from Baird, which boosted its rating to "Outperform." Baird's optimism was driven by the planned launch of Rivian's lower-priced R2 model, which was expected to broaden the company's customer base and support higher delivery volumes over time. Is now the time to buy Rivian? Access our full analysis report here Rivian's shares are extremely volatile and have had 32 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 3 days ago when the stock dropped 5.1% on the news that its competitor Ford announced a major pullback from its electric vehicle (EV) strategy, which amplified investor concerns a Show less Read more
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