Rivian stock is up 50%, here's why

Just as the rest of the electric vehicle (EV) sector, Rivian (NASDAQ: RIVN) recorded a negative performance on a year-to-date basis, losing 43% of its stock value in the process.But, on June 25, everything changed overnight, as RIVN stock added almost 50% in the pre-market trading on the news of a $5 billion investment from the German automaker Volkswagen (ETR: VOW3).RIVN stock 24-hour price chart. Source: Google FinanceThis gain means that Rivian’s market cap rose by $6 billion in a matter of hours after t ...