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

We recently published a list of 10 Firms Outperform Broader Market on Tuesday. In this article, we are going to take a look at where Rivian Automotive Inc. (NASDAQ:RIVN) stands against other firms that outperform broader market on Tuesday.

The stock market finished mixed on Tuesday, with the Dow Jones the sole loser with a marginal 0.03-percent dip, as investors awaited clarity on President Donald Trump’s new tariff rollout.

The tech-heavy Nasdaq ended 0.87 percent higher, while the S&P 500 grew 0.38 percent.

Meanwhile, 10 individual stocks outperformed the bellwether indices, finishing the day in the green amid a flurry of fresh corporate developments that boosted investor appetite.

In this article, we named Tuesday’s top 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)

Rivian Automotive grew its share prices for a second day by 6.67 percent to end at $13.28 apiece as investors resumed buying shares following its planned expansion into the lightweight electric vehicle industry.

Last week, the company announced that it secured $105 million in funding for its newly spun-off business called Also Inc., which would focus on the development of its lightweight electric vehicle market.

In a statement, RIVN founder and CEO RJ Scaringe said that a range of vehicle types and form factors will be needed for the global adoption and transition to electrified transportation.

“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,” he said.

Lightweight EVs aside, RIVN would continue to expand its core business with the launch of R2, a five-seater SUV designed for the adventurous market. It said it expects customer deliveries to begin in the first half of 2026.

Overall, RIVN ranks 9th on our list of firms that outperform broader market on Tuesday. 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.