1 Year Ago
1 Min Read

RIVN is making big moves today. Find out why the stock is trading 9% higher:

Rivian Automotive Inc - Class A (RIVN) is trading 9% higher at $36.34 today. So far the Consumer Discretionary sector has been having a gloomy day, and the share price of the company is rocketing past it's peers.

- Mercedes-Benz and Rivian are partnering to produce electric vans at scale in Europe.
- The joint venture announced Thursday will help each automaker scale their electric van businesses.
- As part of the partnership, Mercedes-Benz plans to phase out gas-engine vans by 2025.

Rivian Automotive Inc - Class A has been trading between a 52-week high of $179.47 and a 52-week low of $19.25. The stock has a market cap of $33 Billion.

Rivian exists to create products and services that help our planet transition to carbon neutral energy and transportation. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets. Rivian complements its vehicles with a full suite of proprietary, value-added services that address the entire lifecycle of the vehicle and deepen its customer relationships.

As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverseâ„¢:

AdditionalAd1431 - 5 upvotes - source
Early morning bull trap on RIVN

CUTON1C - 3 upvotes - source
$RIVN just casually up 12%

No-Comfortable-4350 - 3 upvotes - source

VisualMod - 3 upvotes - source
>$RIVN +12% premkt [twitter.com/DeItaone/statu…](https://t.co/S9O9AAxxB3) ^\*Walter ^Bloomberg ^[@DeItaone](http://twitter.com/DeItaone) ^at ^2022-09-08 ^09:03:12 ^EDT-0400

VisualMod - 3 upvotes - source
>MERCEDES, RIVIAN TO MAKE VANS AT JOINT FACTORY IN EUROPE $RIVN ^\*Walter ^Bloomberg ^[@DeItaone](http://twitter.com/DeItaone) ^at ^2022-09-08 ^09:00:36 ^EDT-0400

su404455 - 2 upvotes - source
What happened to RIVN???? any news

Damerman - 2 upvotes - source
Wherefore art though up 10% RIVN?

AdditionalAd1431 - 2 upvotes - source
Thats right RIVN, you die

Jeff_xx - 2 upvotes - source
Someone tell what happened to Rivn

AdditionalAd1431 - 2 upvotes - source
Wtf is with RIVN?