itstargetnews
Rivian Automotive (NASDAQ: RIVN) Shares are gaining in Tuesday’s trading. The electric vehicle (E.V) the company’s stock price was up 5% at 11:30 a.m. ET.
Today is the last trading day of 2024 and investors are making relatively few buying and trading moves compared to the average session. Thanks in part to lower trading volume, Rivian stock is making significant gains following a new endorsement from a social media influencer and positive coverage of the company from Newsweek.
With relatively low trading volume today, it takes less news to drive significant moves in a company’s share price. Rivian’s share price is seeing big gains along with this momentum and some positive coverage of its vehicles, cargo network and branding initiatives.
YouTuber Marques Brownlee recently announced that he had sold his Tesla cyber truck Brownlee, who is an influencer in the online tech space and best known for his online handle “MKBHD,” stated that he made the move because he thought Rivian trucks were better. His comments started a wave of debate in social media circles and generated coverage in automotive and investment publications.
Rivian’s stock is also getting a boost from an article published by Newsweek today In the write-up, which is titled “Rivian’s Changing the Charging Game, One Destination at a Time,” the publication’s senior automotive editor Eileen Falkenberg-Hull explains how the company is making moves to expand coverage of the charging network and promoting your brand at your experience-focused outposts.
Rivian will likely release its fourth-quarter delivery numbers in the first week of 2025, and performance in the period could have a significant impact on the company’s stock price. Tesla’s upcoming 4Q deliveries report could also be a major catalyst for the stock, because the EV leader’s performance is often seen as a benchmark for the industry.
In particular, some analysts and investors have turned more bearish on Tesla’s upcoming report and expect the company to report deliveries below previous Wall Street estimates. On the other hand, lowering expectations could set the stage for significant gains if positive surprises arrive. With Rivian, Tesla and other players in the space poised to deliver major performance upgrades in the very near future, EV stocks could start 2025 making big news.
Before you buy shares in Rivian Automotive, consider this:
