Why Rivian, Lucid, Tesla, And Nvidia Shares Soared

(MENAFN- Baystreet) Last Friday, Rivian Automotive (RIVN) jumped by 24.45%. The firm posted delivery figures that exceeded expectations. The company is no longer constrained by the supply disruption.

Rivian delivered 14,183 vehicles in the quarter ended Dec. 31, 2024. On average, 15 analysts expected 13,472 units. The firm produced 12,727 units. In contrast, Tesla (TSLA) posted a yearly drop in deliveries. TSLA stock slumped last Thursday but rebounded on Jan. 3. While shares gained 8.22%, the stock potentially“double topped” at $450 - $488.

Helped by Rivian's rally, Lucid Group (LCID) added 8.58%, continuing its bounce from the $2.20 lows the previous month. Bears hold a 23.4% short interest against LCID stock.

EV investors should continue to have a bullish outlook for both Rivian and Tesla. However, Lucid is the weakest among the EV suppliers. The firm relies on consumer tastes in luxury vehicles. Unfortunately, the inflationary economy will limit sales. They will prefer either mainstream Tesla vehicles or Rivian truck EVs.

In the chip sector, Nvidia (NVDA) continued to climb from the sub-$130 low. At CES 2025 in Las Vegas, Nvidia will unveil a gaming PC graphics card product. The GPU's architecture is based on Blackwell. This will give Nvidia a serious lead over AMD (AMD) and Intel (INTC) in the gaming space.

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