Stock Market Today, May 29: Rivian Automotive Jumps on R2 SUV Launch Confirmation

Rivian Automotive (NASDAQ:RIVN), an electric truck and SUV maker, closed Friday at $16.3, up 7.24%. The stock moved higher after confirmation of a June 9 R2 SUV launch, while traders are watching R2 deliveries and software growth momentum next.Trading volume reached 56.6 million shares, about twice its three-month average of 28.4 million shares. Rivian Automotive IPO'd in 2021 and has fallen 84% since going public.The S&P 500 (SNPINDEX:^GSPC) added 0.23% to finish Friday at 7,581, while the Nasdaq Composite (NASDAQINDEX:^IXIC) rose 0.20% to close at 26,973. Within electric vehicle manufacturing, industry peers Tesla (NASDAQ:TSLA) closed at $435.79 (-1.43%) and Lucid Group (NASDAQ:LCID) finished at $6.55 (+1.39%), underscoring Rivian’s stronger session.Rivian’s R2 rollout is highly anticipated by Rivian investors. The future of the stock, and possibly the company, depend on the new vehicle and its technology.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool