In recent weeks, Rivian Automotive (NASDAQ:RIVN) has started to make a steady move to higher prices. After hitting a new all-time low during mid-March, during the last few trading days of the month, investors warmed back up to Rivian stock.
This was due to speculation that the electric vehicle (or EV maker) would beat estimates with its delivery and production figures for the quarter ending March 31, 2023. Unfortunately, when the company released actual numbers, instead of unveiling a pleasant surprise, results instead were mixed at best.
That said, while the latest news isn’t doing much to curb investor optimism, don’t assume that this will continue.
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