Rivian’s Surge In Stock Price Makes It An Attractive Acquisition Target In EV Market

People walk by electric truckmaker Rivian's newly opened storefront in the Meatpacking District of Manhattan on June 23, 2023, in New York City. The 5,000-square-foot location, Rivian’s first on the East Coast, displays its R1T and R1S electric vehicles and offers merchandise, test drives and a lounge and activity space for children. The Manhattan showroom is a temporary location until Rivian opens its permanent New York location in Brooklyn’s trendy Williamsburg neighborhood. (Spencer Platt/Getty Images)

Electric vehicle startup Rivian Automotive, Inc. (NASDAQ:RIVN) has experienced a remarkable surge in its stock price since late June, nearly doubling in value since June 26.

People look at Rivian electric trucks at the automaker’s newly opened storefront in the Meatpacking District of Manhattan on June 23, 2023, in New York City. The R1S is one of two passenger vehicles sold by Rivian. (Spencer Platt/Getty Images)