Why Rivian Stock Soared Higher Today

Why Rivian Stock Soared Higher Today
·2 min read

The EV stock appears to have benefited as some investors regained a bit of optimism about the market due to upbeat quarterly results from several companies. The tech-heavy Nasdaq Composite index closed Thursday up 2.7% after Dollar Tree's quarterly earnings came in higher than analysts' average estimate. Additionally, Chinese e-commerce giant Alibaba Holdings reported better-than-expected earnings -- news that gave a boost to other tech stocks.