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Why Did Rivian Stock Soar 15% Today?

TheMotleyFool

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Why Did Rivian Stock Soar 15% Today?: https://g.foolcdn.com/editorial/images/847975/rivian-r2-suv.png

Rivian Automotive (NASDAQ: RIVN) held its first "Autonomy & AI Day" last week, surprising investors with the news that it had developed its own in-house artificial intelligence (AI) chip. That gave investors a window into the company's path toward offering a fully autonomous vehicle.

Shares have marched higher since that event, including a 15% increase today to close at a 52-week high. Today's move came after one Wall Street analyst noted Rivian's in-house technology and lifted his firm's price target by 78%.

Source Fool.com

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