Analysts are worried the stock's AI boost is already priced in
Rivian Automotive Inc (NASDAQ:RIVN) stock was last seen down 8.5% to trade at $17.24 after a downgrade from UBS to "sell" from "neutral" -- its second downgrade this week. The analyst in coverage believes most of the electric vehicle (EV) name's AI news has been released, and that market expectations for the upcoming R2 vehicle launch may be too high. The firm lifted its price target to $15 from $13, however.
On the charts, Rivian Automotive stock has been falling since its Dec. 22, two-year high of $22.69, now on track for its fifth-straight loss. Year over year, the equity remains up 31%.
Over in the options pits, RIVN puts are being picked up at double their intraday average pace, though call volume is still heavier on an absolute basis. The June 15 put is the most popular contract so far, followed by the January 2026 17.50-strike put, which expires this week.
For those betting on a short-term bounce here soon, RIVN's 14-day relative strength index (RSI) of 17 sits in "oversold" territory. Plus, short interest has been building, and now represents 19.2% of the stock's available float, or over three days' worth of pent-up buying power.