Rivian Stock Jumps To 3-Week High Premarket: What’s Going On?

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) rallied in premarket trading on Wednesday after the electric vehicle startup reported above-consensus revenue and bottom-line results for the third quarter.

The company reported a non-GAAP loss of $1.19 per share, narrower than the year-ago loss of $1.57 per share. Revenue climbed 150% to $1.34 billion. Both metrics exceeded the consensus estimates that called for a loss per share of $1.32 and revenue of $1.327 billion.