What's Going On With Rivian's Stock?
Portfolio Pulse from Erica Kollmann
Rivian Automotive (NASDAQ:RIVN) shares are trading higher following the company's application to the EPA for certification of its 2025 model year vehicles and a new agreement with Pivot Energy for solar energy. Rivian's stock is trading above its 50-day moving average, with a significant portion of shares being sold short. Analysts have mixed ratings on the stock, with an average 1-year price target of $15.09.
May 22, 2024 | 6:45 pm
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Rivian's stock is trading higher due to its EPA application for 2025 models and a new solar energy agreement with Pivot Energy. The stock is above its 50-day moving average, and analysts have mixed ratings with an average price target of $15.09.
The EPA application and the solar energy agreement are positive developments that align with Rivian's mission of carbon-free transportation. These factors, combined with the stock trading above its 50-day moving average, contribute to the positive short-term outlook. However, the mixed analyst ratings introduce some uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100