What's Going On With Rivian Stock Today?
Portfolio Pulse from Ryan Gustafson
Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading higher with above-average volume of 59.23 million shares compared to its average volume of 41.05 million. The company also has increased short interest with 16.47% of shares currently sold short. This follows a weaker day for the stock when Ford (NYSE:F) announced price cuts on its F-150 Lightning, a competitor with Rivian's R1T.
July 18, 2023 | 7:39 pm
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NEUTRAL IMPACT
Ford's announcement of price cuts on its F-150 Lightning, a competitor with Rivian's R1T, could be an attempt to drive demand for its electric truck.
Ford's decision to cut prices on its F-150 Lightning could be an attempt to increase its market share in the electric truck market. However, it's unclear how this will impact Ford's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 50
POSITIVE IMPACT
Rivian's stock is trading higher with increased short interest. This follows a weaker day for the stock when Ford announced price cuts on its F-150 Lightning, a competitor with Rivian's R1T.
The increase in Rivian's stock price and trading volume could be due to investors' reaction to Ford's price cuts on its F-150 Lightning, a competitor with Rivian's R1T. The increased short interest indicates that some investors are betting on the stock's price to fall.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100