At the beginning of June, Rivian Automotive Inc (NASDAQ: RIVN) announced the redesign of its its all-electric R1 pickup and SUV models. By using Nvidia Corporation (NASDAQ: NVDA) chips, Rivian improved the range, performance and computing power of its vehicles. Rivian already made history by bringing the world’s first all-electric pickup to the road, beating even the EV king, Tesla Inc (NASDAQ: TSLA) whose long-anticipated Cybertruck came to life a while after. But, the EV concept continues to e
Recently, Zacks.com users have been paying close attention to Rivian Automotive (RIVN). This makes it worthwhile to examine what the stock has in store.
Rivian Automotive is looking to challenge Tesla, Ford and General Motors with its adventure-styled electric vehicles. Chief Executive RJ Scaringe on June 10 sold 71,429 RIVN shares for a market value of $820,883.50, according to regulatory filings. Rivian stock jumped 3% to 11.87 on June 10, and is up 10.5% on the month as of June 12.