Why Rivian Stock Stomped on the Accelerator Today

Shares of Rivian Automotive (NASDAQ: RIVN) surged all day long Monday, finally ending the day with the electric truck stock up 11.6% over Friday's close. Surprisingly, with price targets of $104 and $110, respectively, even those two didn't find Rivian stock outrageously priced. The bulls' uniformly positive ratings predicted that despite its dearth of sales, Rivian will continue rising to anywhere from $130 a share (Deutsche Bank) to as high as $170 (Bank of America).