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RIVN - Why Rivian Stock Roared Ahead 10% on Friday
Rivian Automotive Inc.
2024-07-12 13:28:11 ET
Rivian Automotive (NASDAQ: RIVN) stock is wrapping up the trading week on a high note, revving 10% higher to over $18 as of 12:30 p.m. ET -- and for a most surprising reason:
This morning, investment bank Mizuho raised its price target on Rivian...to $15 a share.
Let me repeat that: Rivian stock closed at more than $16 last night. Mizuho just said it's only worth $15 (and gave the shares only a neutral rating -- not a buy). And investors responded by bidding Rivian stock up instead of down.