Reported about 7 hours ago
Rivian Automotive's stock surged approximately 14.9% after California's Governor Gavin Newsom announced plans to propose a new version of the Clean Vehicle Rebate Program if federal electric vehicle tax credits are eliminated under President-elect Donald Trump. This move aims to offset potential declines in EV demand, which could drop by 27% without tax incentives, thereby boosting investor confidence in Rivian and other electric vehicle stocks.
Source: YAHOO