5Rivian Automotive (RIVN), the stock of electric vehicle maker, rose more than 5% during morning trading. This is a sign that it will be another great day for its stock.
The stock has been rising for the last eight trading sessions. It gained nearly 84% during that time and closed at its highest level since the end of December on Friday.
Analysts attribute the rally to the company's more optimistic outlook following its production update from last week, as well as a spate of price target increases by equity analysts.