Rivian Jumped Today -- Is the EV Stock a Buy?
Rivian (NASDAQ: RIVN) stock saw substantial gains in Thursday's trading. The electric vehicle (EV) specialist's share price ended the session up 6.6% in a day that saw the S&P 500 index rise 1% and the Nasdaq Composite index rally 1.5%.Rivian's valuation gained ground today following news that the State Department's procurement forecast for 2025 included plans for spending on EVs. The document initially included a category titled "Armored Electric Vehicles," although this was later changed to "Armored Vehicle Services."Notably, the procurement document initially indicated that Tesla was on track to receive a $400 million contract for armored EVs. But the listing was subsequently removed, and Tesla CEO Elon Musk said there were no plans for his company to receive the government contract. Some investors may be betting that Rivian could wind up receiving the deal in its place -- or simply that the Trump administration will be more helpful to the EV industry than previously anticipated.Continue reading
Rivian (NASDAQ: RIVN) stock saw substantial gains in Thursday's trading. The electric vehicle (EV) specialist's share price ended the session up 6.6% in a day that saw the S&P 500 index rise 1% and the Nasdaq Composite index rally 1.5%.
Rivian's valuation gained ground today following news that the State Department's procurement forecast for 2025 included plans for spending on EVs. The document initially included a category titled "Armored Electric Vehicles," although this was later changed to "Armored Vehicle Services."
Notably, the procurement document initially indicated that Tesla was on track to receive a $400 million contract for armored EVs. But the listing was subsequently removed, and Tesla CEO Elon Musk said there were no plans for his company to receive the government contract. Some investors may be betting that Rivian could wind up receiving the deal in its place -- or simply that the Trump administration will be more helpful to the EV industry than previously anticipated.
