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Rivian's stock surged over 24% on Friday after the electric vehicle manufacturer reported better-than-expected vehicle sales for the fourth quarter of 2024. The company delivered nearly 14,200 electric vehicles in the quarter, slightly exceeding Wall Street analysts' expectations of 13,400 EVs, and achieving an annual total of approximately 51,580 electric trucks.

Despite the positive performance, Rivian had a challenging year, with its stock plummeting 40% compared to 2023 and nearly 90% from its peak of over $100 during its market launch in 2021. The stock's significant rise was attributed to the company's ability to meet and slightly surpass delivery forecasts, signaling potential resilience in the competitive electric vehicle market.

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