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Rivian stock rallies over 7% as analyst says ‘worst has passed’

Shares of Rivian Automotive Inc. jumped more than 7% Wednesday after the electric-vehicle maker wrestled with rising costs as its production picked up, earning some praise from Wall Street.

Rivian RIVN late Tuesday reported a narrower-than-expected first-quarter loss and stuck with its production outlook for the year, in contrast with guidance cuts for two other EV startups.

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