Rivian Automotive Stock Brushes Off Output Numbers

The company's COO is also retiring

Deputy Editor
Jan 11, 2022 at 11:29 AM
facebook X logo linkedin

The shares of Rivian Automotive Inc. (NASDAQ:RIVN) are up 5.2% to trade at $85.68 at last glance, reversing course from their pre-market losses. The company's electric vehicle (EV) output fell short of its 2021 goal, amid news that the company's Chief Operating Officer (COO) Rod Copes is retiring. 

Publicly traded since mid November, RIVN is already down 17.6% year-to-date -- hitting a Jan. 6 record low of $75.13. Now on its way toward a rebound, the stock's 20-day moving average still lingers overhead as potential pressure, and helped guide the security lower since forming in early December. It's also worth noting that RIVN's 14-day relative strength index (RSI) of 38 sits near "oversold" territory. This means a short-term bounce could have already been in the cards. 

Short interest has skyrocketed, adding 209% during the two most recent reporting periods. Now, the 19.61 million shares sold short account for 3% of the stock's available float. Additionally, the security has landed on the Short Sale Restricted (SSR) list today. 



Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!




Rainmaker Ads CGI