Rivian Automotive — Shares of Rivian Automotive skyrocketed more than 40% after the electric vehicle company secured up to $5 billion in funding from Volkswagen Group.
A so-called short squeeze added fuel to the gain as about 19% of the Rivian shares available for trading were sold short before this news, according to FactSet.
Nvidia — The chip stock added more than 2%, building on a nearly 7% rebound during Tuesday's session.
Aptiv — The automotive technology stock dropped 7% after Piper Sandler downgraded Aptiv to underweight from neutral and cut its price target.
Robinhood — Shares added 3%.
Persons:
Bosch, Mills, Aptiv, Piper Sandler, Campbell, Ken Goldman, Wolfe, Sarah Min, Lisa Han, Jesse Pound, Michelle Fox
Organizations:
Rivian Automotive, Volkswagen Group, FactSet, FedEx — FedEx, Whirlpool, Reuters, Southwest Airlines —, Nvidia, Citi Research, Rivian, Volkswagen, JPMorgan, United States Steel, BMO Capital Markets, U.S, Steel, Nippon Steel, Micron Technology
Locations:
Tuesday's