Rivian Gets an Upgrade, Reports Strong Deliveries. The Stock Is Down.

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By BitcoinWiki News

Key Takeaways:

– Evercore ISI analyst Chris McNally upgrades Rivian to a Buy rating from Hold
– Rivian reports strong deliveries
– Profit-takers may be affecting the stock
– BCH (Bitcoin Cash) is not mentioned in the article


Rivian Gets an Upgrade, Reports Strong Deliveries. The Stock Is Down.

Upgrade to Buy from Hold

Chris McNally, an analyst at Evercore ISI, has upgraded electric-truck maker Rivian from Hold to Buy. This upgrade suggests that McNally believes that Rivian’s stock has the potential for significant growth in the future.

Strong Deliveries

In addition to the upgrade, Rivian also reported strong delivery numbers. While the exact figures were not mentioned, the company’s ability to deliver its electric trucks in large quantities indicates a growing demand for its products.

Profit-Takers May Be at Work

Despite the positive news of the upgrade and strong deliveries, Rivian’s stock is down. This could be due to profit-takers, investors who sell their shares to secure their gains. When a stock experiences a significant rise, some investors may choose to sell their holdings, causing the stock price to decline.

Conclusion

Rivian’s upgrade to Buy from Hold by Chris McNally highlights the analyst’s positive outlook for the company. Along with the upgrade, Rivian reported strong delivery numbers, indicating a growing demand for electric trucks. However, the stock’s decline suggests profit-taking may be at play. It remains to be seen how Rivian’s stock will perform in the future.

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