Why Rivian Automotive Inc. (RIVN) Went Up On Friday?

We recently published a list of 10 Stocks Lead Friday’s Charge. In this article, we are going to take a look at where Rivian Automotive Inc. (NASDAQ:RIVN) stands against other stocks that lead Friday’s charge.

The stock market finished in the green territory on Friday, albeit muted trading persisted over the lack of catalysts to fuel investing appetite.

The tech-heavy Nasdaq led gains among Wall Street’s benchmark indices, finishing up by 0.52 percent. Meanwhile, both the Dow Jones and S&P 500 ended the week eking out 0.08-percent gains.

Ten companies mirrored the broader market optimism, finishing the week with modest gains. In this article, we have identified today’s top performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with $2 billion in 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)

Rivian Automotive saw its share prices increase by 6.62 percent on Friday to finish at $11.60 apiece as investors appeared to have bargain-hunted from Thursday’s dip.

The momentum was achieved despite a recent downgrade from investment firm Piper Sandler, which gave the company a new rating of “neutral” from “overweight” previously. It also cut its price target to $13 from $19.

Piper Sandler said RIVN does not have any upside catalyst to boost trading this year until it launches the R2 vehicle in the first half of 2026.

Additionally, Piper Sandler expects lower deliveries for RIVN in 2025, at only between 46,000 and 51,000 units, or a decrease from the 51,579 deliveries reported last year.

Meanwhile, RIVN was said to have held off the production line at its factory in Illinois for about a month in the second semester of the year to prepare for the start of production of its new vehicles.

Overall, RIVN ranks 6th on our list of stocks that lead Friday’s charge. 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.

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