Why Rivian Automotive Inc. (RIVN) Went Up On Tuesday?

We precocious published a database of 10 Firms Outperform Broader Market connected Tuesday. In this article, we are going to instrumentality a look astatine wherever Rivian Automotive Inc. (NASDAQ:RIVN) stands against different firms that outperform broader marketplace connected Tuesday.

The banal marketplace finished mixed connected Tuesday, with the Dow Jones the sole loser with a marginal 0.03-percent dip, arsenic investors awaited clarity connected President Donald Trump’s caller tariff rollout.

The tech-heavy Nasdaq ended 0.87 percent higher, portion the S&P 500 grew 0.38 percent.

Meanwhile, 10 idiosyncratic stocks outperformed the bellwether indices, finishing the time successful the greenish amid a flurry of caller firm developments that boosted capitalist appetite.

In this article, we named Tuesday’s apical performers and elaborate the reasons down their gains.

To travel up with the list, we considered lone the stocks with a $2-billion marketplace capitalization and $5 cardinal successful trading volume.

A state-of-the-art electrical conveyance charging astatine a presumption astatine a suburban mall.

Rivian Automotive grew its stock prices for a 2nd time by 6.67 percent to extremity astatine $13.28 apiece arsenic investors resumed buying shares pursuing its planned enlargement into the lightweight electrical conveyance industry.

Last week, the institution announced that it secured $105 cardinal successful backing for its recently spun-off concern called Also Inc., which would absorption connected the improvement of its lightweight electrical conveyance market.

In a statement, RIVN laminitis and CEO RJ Scaringe said that a scope of conveyance types and signifier factors volition beryllium needed for the planetary adoption and modulation to electrified transportation.

“I americium highly excited astir the innovations developed by the Also squad that volition underpin a scope of highly compelling micromobility products that volition assistance specify caller categories,” helium said.

Lightweight EVs aside, RIVN would proceed to grow its halfway concern with the motorboat of R2, a five-seater SUV designed for the adventurous market. It said it expects lawsuit deliveries to statesman successful the archetypal fractional of 2026.

Overall, RIVN ranks 9th connected our database of firms that outperform broader marketplace connected Tuesday. While we admit the imaginable of RIVN arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and doing truthful wrong a shorter clip frame. If you are looking for an AI banal that is arsenic promising arsenic RIVN but trades astatine little than 5 times its earnings, cheque retired our study astir the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This nonfiction is primitively published at Insider Monkey.