11 Firms Under Tech, Energy, Aviation Lead Friday Rally

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1. Rivian Automotive Inc. (NASDAQ:RIVN)

Shares of Rivian Automotive Inc. rallied by 24 percent on Friday, finishing the trading week with an additional 3.24 points at $16.49 each after recording better-than-expected vehicle deliveries.

According to the company, it produced 12,727 vehicles at its plant in Normal, Illinois in the fourth quarter of the year and a total of 49,476 units for the full year. Deliveries were even better at 14,183 for the fourth quarter alone and 51,579 units for the full year 2024.

Meanwhile, Wall Street analysts earlier expected the company to deliver closer to 13,400 electric vehicles for the period and 51,000 for the entire year.

Last month, the company also sealed a deal with Volkswagen for the creation of a $5.8 billion joint venture company called “Rivian and VW Group Technology.” The new company will focus on developing an electrical and electronic architecture and software for electric vehicles that each automaker will utilize.

While we acknowledge the potential of RIVN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than RIVN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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