Rivian Automotive Inc. (NASDAQ:RIVN) saw a 1.8% surge in premarket trading on Friday, positioning its shares to open at their highest level in seven months. The electric vehicle manufacturer had previously reached a peak of $25.91 on July 12 but experienced a 7.4% decline during a three-day losing streak. However, the stock has since initiated a recovery.
Amidst this movement, other EV manufacturers also experienced notable shifts. Tesla Inc. (NASDAQ:TSLA) shares rose 1.1% ahead of Friday’s trading session. The previous day, Tesla’s stock had dropped by 9.7% due to second-quarter results, leading to a 10.4% correction from its 10-month high closing price of $293.34 on July 18.
Investors now await Rivian’s second-quarter results, which are scheduled for release on August 8. The company’s stock performance and its upcoming financial report have drawn significant attention in the market.
Featured Image: Megapixl
Author Faith Yakubu 
