Why Rivian Stock Dropped Early Today

Rivian Automotive (RIVN 0.99%) stock is getting caught up in fallout from another company's electric vehicle (EV) announcement yesterday. Rivian shares sank more than 5% in early trading Wednesday.That's because tech titan Apple said it was ending a decade-long project to develop its own electric car. Some investors saw that as one more sign that EV demand is never going to be as strong as some initially thought. But Rivian shares recovered from today's early drop, and there's a good reason for that, too. A ...