Why Rivian stock is surging

The share price of electric vehicle startup Rivian (NASDAQ: RIVN) is showing strength as investors react positively to news of a significant investment in the struggling firm.Although RIVN ended the last trading session down 4% with a valuation of $10.58, the stock was up over 11% during the pre-market session on November 13.The stock has struggled throughout 2024 amid rising competition and a slowdown in EV market demand, leading Rivian to plunge by almost 50% year-to-date. Rivian one-day stock price chart ...