: Rivian’s stock bounces premarket, but is still in danger of snapping record win streak

Shares of Rivian Automotive Inc. RIVN fell 0.9% in premarket trading, but pared an earlier loss of as much as 2.4%, to put them in danger of their first decline in 10 sessions. The electric vehicle maker’s stock had rocketed 89.7% amid a record nine-day win streak through Monday, as it closed Monday at the highest price since Dec. 12, 2022. Helping fuel the recent gains were strong production and delivery data and the EV maker’s entry into Europe through deliveries of custom-made electric delivery vans to Amazon.com Inc. AMZN, which is Rivian’s largest shareholder. Rivian’s stock has soared 73.1% over the past three months through Monday, while shares of EV-market leader Tesla Inc. TSLA have climbed 44.3%, the Global X Autonomous and Electric Vehicles exchange-traded fund DRIV has advanced 14.4% and the S&P 500 SPX has gained 7.3%.

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