Rivian Automotive (RIVN) Jumps Ahead of 2 Conferences

We recently published 10 Power Stocks Crushing Wall Street — 7 at All-Time Highs. Rivian Automotive, Inc. (NASDAQ:RIVN) is one of the best performers on Wednesday.

Rivian Automotive grew its share price by 4.11 percent on Wednesday to finish at $14.44 apiece as investors repositioned portfolios ahead of two conferences that it is slated to attend next week.

In a statement, Rivian Automotive, Inc. (NASDAQ:RIVN) said its CEO, RJ Scaringe, would participate in a fireside chat at the Goldman Sachs Communacopia + Technology Conference next Wednesday, September 10, at 12:25 PM Pacific Time (3:25 PM Eastern Time).

This would be followed by another fireside chat at Morgan Stanley’s 13th Annual Laguna Conference scheduled on Thursday, September 11, at 4:50 PM Pacific Time (7:50 PM Eastern Time).

Investors took the twin announcements positively on expectations that Rivian Automotive, Inc. (NASDAQ:RIVN) will unveil positive updates about its business.

Last month, Rivian Automotive, Inc. (NASDAQ:RIVN) said it narrowed its net loss attributable to shareholders by 24 percent to $1.1 billion from $1.45 billion in the same period last year. Revenues grew by 12 percent to $1.3 billion from $1.16 billion year-on-year.

While we acknowledge the potential of RIVN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.