Rivian soars 13% on Monday after double dose of good news
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Rivian Automotive Inc (NASDAQ: RIVN) saw a 13% increase in stock price after California announced it would revive incentives for EV buyers if federal tax credits are terminated.
November 25, 2024 | 7:30 pm
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Rivian's stock jumped 13% following California's announcement to revive EV incentives if federal tax credits are terminated, providing a potential boost to EV sales.
The potential revival of state incentives in California, a major market for EVs, could significantly benefit Rivian by offsetting the impact of any federal tax credit cuts, leading to increased investor confidence and a rise in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100