Why Rivian Automotive Inc. (RIVN) Surged On Thursday?

We recently published a list of 10 Stocks Jump, Defy Market Uncertainties on Thursday. In this article, we are going to take a look at where Rivian Automotive Inc. (NASDAQ:RIVN) stands against other stocks that jumped, defying market uncertainties on Thursday.

The stock market extended losses on Thursday, with all the major indices ending in the red as investors continued to sell off positions to minimize risks from the ongoing trade tensions globally.

The tech-heavy Nasdaq fell the hardest, down 0.53 percent, followed by the Dow Jones at 0.37 percent, and the S&P 500 at 0.33 percent.

The broader market decline was mainly weighed down by shares in automakers following President Donald Trump’s announcement of a 25-percent tariff on all vehicles imported to the US.

Meanwhile, 10 companies defied a broader market pessimism amid fresh company developments that buoyed buying appetite. Two gold miners were particularly notable as investors sought safer assets amid the economic uncertainties.

In this article, we listed Thursday’s 10 best performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume.

A state-of-the-art electric vehicle charging at a station at a suburban mall.

Rivian Automotive Inc. (NASDAQ:RIVN)

Shares of Rivian Automotive grew by 7.6 percent on Thursday to end at $13.02 apiece amid investor hopes for the expansion of its micromobility business.

In a statement, RIVN said it secured $105 million worth of investment from Eclipse Ventures for its newly spun-out business called Also Inc., which will focus on the development of small and lightweight vehicles.

“For the world to fully transition to electrified transportation, a range of vehicle types and form factors will be needed,” said Rivian Founder and CEO RJ Scaringe. “I am extremely excited about the innovations developed by the Also team that will underpin a range of highly compelling micromobility products that will help define new categories.”

As part of its expansion program, RIVN said it would continue to make significant progress toward the launch of R2, a five-seater SUV designed for the adventurous. It said it expects customer deliveries to begin in the first half of 2026.

Overall, RIVN ranks 5th on our list of stocks that jumped, defying market uncertainties on Thursday. While we acknowledge the potential of RIVN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as RIVN but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.