Tuesday, UBS analyst 网页链接{Joe Spak} upgraded Rivian stock to Hold from Sell. He left his price target unchanged at $9. He didn’t have to change his price target because Rivian shares have cratered about 64% year to date heading into Tuesday trading.
“With climbing short interest, [investor] positioning is also a higher risk, especially if a positive data point [or] catalyst emerges,” wrote Spak. “Near-term upside catalysts could be if there is a positive update on 网页链接{R2 orders} which would reinforce what Rivian can become, even if that growth is more likely in 2026 [or] 2027.”
Short sellers borrow stock they don’t own and sell it, betting that they can replace the borrowed shares later at a lower price