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Why Arrival Stock Is Up Today

Why Arrival Stock Is Up Today

The CEO of Arrival (NASDAQ: ARVL) is stepping down, part of a broader shakeup at the troubled electric vehicle (EV) manufacturer. Investors are hoping the reshuffling will have a positive impact, sending shares of Arrival up as much as 18% on Friday. Arrival came to market in March 2021 via a deal with a special purpose acquisition company (SPAC) with plans to develop battery-powered vans, buses, and cars.