Rivian Stock Skyrockets Premarket, Set To Open At 4-Month High: What's Going On?

Group 1 - Rivian Automotive is forming a joint venture with Volkswagen AG's U.S. subsidiary to develop next-generation electrical architecture and software technology [1] - Volkswagen will invest $1 billion in Rivian, with potential additional investments bringing the total deal size to $5 billion [1] - Rivian plans to raise $1 billion in debt financing through the issuance of 4.75% convertible promissory notes, which can convert into common stock under specific conditions [1] Group 2 - The electric vehicle industry is facing challenges due to a demand slowdown, impacting companies without substantial financial resources [2] - Rivian's stock rose 36.71% to $16.35 in premarket trading, following an 8.63% increase the previous day due to positive analyst actions [2]