Why Rivian Stock Is Soaring Today

Investors are excited about Rivian's joint venture with VW.Shares of Rivian Automotive (RIVN 20.09%) skyrocketed today after the company announced a new joint venture with Volkswagen AG for vehicle software, which includes a $1 billion investment in Rivian by the German automaker, with plans to invest up to $5 billion.The injection of cash into Rivian comes as the company is cutting costs and carving out its niche in the nascent electric vehicle (EV) market. Investors were thrilled with the news of the join ...