NEW YORK : Shares of Rivian Automotive surged more than 15 per cent on Friday, extending gains for the eighth consecutive session, after the electric vehicle maker reported better-than-expected quarterly deliveries.
The shares of several EV makers have risen since last week on market expectations of strong quarterly delivery reports. Rivian's stock soared to $24.99 on Friday, a 2023 peak. It has gained roughly 80 per cent over the past eight sessions and is up about 33 per cent year-to-date. Twenty-three Wall Street brokerages covering Rivian on average recommend buying the stock and set a median price target of $24, Refinitiv data showed.
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