NIO Stock Gets a 5% Boost from Rivian-Volkswagen Deal

Many electric vehicle (EV) stocks are rising today on news that Volkswagen (OTCMKTS:VWAGY) is preparing to invest up to $5 billion in electric truck startup Rivian (NASDAQ:RIVN). This announcement is fueling a rally that is pushing up even struggling EV stocks, including Nio (NYSE:NIO) stock.Chinese EV maker Nio has spent the past month trending downward, failing to garner any sustainable momentum. But today, NIO stock is rising steadily, enjoying the upward mobility sparked by the Rivian rally.It appears t ...