Rivian Stock Has Been on Fire. Is It Too Late to Buy?

The stock of Rivian Automotive(NASDAQ: RIVN) is jumping again on Monday. Shares of the electric vehicle (EV) maker popped as much as 12% in early trading today to start the week. That jump kept the momentum going for Rivian shares.

The stock has soared by more than 30% since mid-April. That move came after the company introduced its next-generation lineup of midsize electric SUVs in March and after a large funding grant from the State of Illinois Department of Commerce and Economic Opportunity. That grant will help Rivian save more than $2.25 billion in capital spending as it expands its Illinois factory to begin building the R2 vehicle platform it announced.

But another tailwind has investors pushing the stock higher today, too.

Looking at the EV landscape

Today’s pop came after reports…