Rivian Stock Bounces Back on Positive News and Short Squeeze Worries
Tuesday, 16 April 2024, 16:42
Why Rivian Stock Bounced Back on Tuesday
Investors in Rivian Automotive (NASDAQ: RIVN) saw a 4.3% increase in the stock value as UBS upgraded its rating from sell to neutral. While the price target remains at $9 per share, UBS projects potential growth if revenue targets are achieved.
Short Squeeze Concerns Rise
UBS highlighted the growing short interest in Rivian stock, reaching 18.7%, raising worries about a possible short squeeze scenario. Positive future developments could trigger short sellers to cover positions, driving the stock price higher.
Investment Recommendations
- UBS upgrades Rivian to 'neutral' amid short squeeze concerns.
- Consider the short-term risks and potential long-term challenges of investing in Rivian.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.