Stock

Why Rivian Automotive Stock Popped 6.5% Monday

What happened

Shares of Rivian Automotive ( RIVN 6.51% ) dropped last week when it was reported that the company idled production in early January at its Illinois manufacturing plant and that there is local opposition to its previously announced second assembly plant planned in Georgia. But shares rebounded today, and it ironically might have more to do with a different electric vehicle (EV) start-up. Shares of Rivian jumped as much as 7.4% today, closing Monday’s session up 6.5%.

So what

EV investors are watching closely for widely followed electric car maker Lucid Group ( LCID 9.98% ) to report its fourth-quarter and full-year 2021 financial update today after the bell. Rivian will follow that with its report on March 10. Lucid stock soared today leading up to its report and on word that it will announce plans for its second manufacturing plant. That was one of the things that

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RIVN Stock: Rivian’s the Latest ‘If You Build the EV, Will They Come?’ Story

Rivian Automotive (NASDAQ:RIVN) stock has already had a wild ride, as it starts mass production of an electric pick-up truck.

The back of a silver Rivian (RIVN) pick-up truck.

Source: Miro Vrlik Photography / Shutterstock.com

Shares opened at $78 on Nov. 10. This brought Rivian $12 billion in cash, Their value then took off in the first week of trading, peaking at $178 each on Nov. 16.

The shares fell back to earth when the company announced it was no longer working with Ford Motor (NYSE:F), which still owns 12% of the stock. Rivian stock closed last week at about $112, a fall of more than 30%. But Rivian still has a market capitalization nearing $100 billion.

The loser was Ford, a century-old auto giant. It’s now worth just $78.9 billion as it ramps up its own electric vehicle efforts. The fall in Rivian’s price also cut $3.6 billion off the value of Ford’s Rivian

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Here’s Why Cars.com Stock Is Bucking the Trend Today

What happened

Shares of automotive marketplace platform Cars.com (NYSE:CARS) are bucking the trend in the markets today. While the Dow Jones Industrial Average is dropping almost 1,000 points, or 2.75%, Cars.com stock is soaring. As of 11:39 a.m. ET, Cars.com shares were trading near highs of the day, up just over 19%. 

So what

The surge in shares comes on the first trading day after it was announced that Cars.com stock will be added to the S&P SmallCap 600 index. That change won’t occur until Dec. 2, but a move into an index will cause some mutual and exchange-traded index funds to buy the shares. That has other investors jumping in ahead of them today. 

People shaking hands while one hands car keys to the other.

Image source: Getty Images.

Now what

Cars.com will replace DSP Group, which is being acquired by S&P MidCap 400 member Synaptics in a deal expected to close Dec. 2. Today’s surge in the share

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Penske Stock Revving Up For Another Road Trip Higher?

Cars for sale have been in short supply, giving auto sellers like Penske Automotive Group (PAG) pricing power. On Tuesday, Penske stock hit an important technical milestone, with its Relative Strength (RS) Rating entering into the 90-plus percentile due to an upgrade to 91, up from 88 the day before.




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The new 91 RS Rating means that Penske stock has outperformed 91% of all stocks over the past year. Market research shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 at the beginning of a new price run.

Penske Stock Roared 400% Higher From Early 2020

A semiconductor shortage has hit new car makers hard, in most cases forcing them to cut back on production. With new car prices rising and in short supply, consumers turned to the used car market. That, in turn, has led

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