Rivian Stock: This Tesla Rival is Soaring as Some Analysts See More Gains

Rivian (NASDAQ: RIVN ) stock has surged recently, helped by the rising deliveries and the success of its recently launched R2 model. It has soared by nearly 50% from its lowest level this year, and some analysts see more gains ahead. Rivian Stock Jumped After Boosting Deliveries Forecast Rivian, a top Tesla (NASDAQ: TSLA ) rival, soared after publishing its vehicle delivery numbers. In a report, the company said that its production jumped to 12,613 in the last quarter, while deliveries hit 12,194. Its deliveries were higher than the predicted range of between 9,000 and 11,000. Most importantly, the company expects that its demand will accelerate in the second half of the year, with deliveries rising to between 65,000 and 70,000. Boosting Rivian’s growth is R2, its cheaper brand that currently starts at $54,000. It then plans to launch a cheaper variant with a retail price of $44,990 n...