Rivian shares are trading higher amid strength in EV stocks, which may be in anticipation of Tesla's upcoming delivery numbers. High short interest may also be lifting the stock.
Portfolio Pulse from Benzinga Newsdesk
Rivian's stock is trading higher due to the overall strength in the electric vehicle (EV) sector, possibly in anticipation of Tesla's upcoming delivery numbers. High short interest in Rivian may also be contributing to the stock's rise.
June 30, 2023 | 7:34 pm
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Rivian's stock is trading higher, possibly due to anticipation of Tesla's delivery numbers and high short interest in Rivian.
The rise in Rivian's stock can be attributed to the overall strength in the EV sector, possibly in anticipation of Tesla's delivery numbers. High short interest in Rivian, which indicates that many investors are betting that the stock will fall, may also be causing a short squeeze, pushing the stock price higher.
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