RIVN - Lucid Stock Gets Lift From Rivian: What's Going On? | Benzinga
Shares of EV maker Lucid Group Inc (NASDAQ:LCID) are trading higher Wednesday in sympathy with Rivian Automotive Inc (NASDAQ:RIVN), which saw its shares soar after the company announced intentions to form an equally controlled and owned joint venture with Volkswagen.
What Happened: Rivian shares rallied after the market close on Tuesday after the company announced a $5 billion investment from German automaker Volkswagen.
Rivian and Volkswagen will enter into a joint venture to create next generation software-defined vehicle platforms to be used in both companies’ future electric vehicles.
Volkswagen will ...