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Find new investment opportunities based on Market Sentiment Indicator. Manage watchlist risk with leading indicator of volatility See what influential analysts and investors are saying about stocks in your watchlist
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Nama.CohenNama Cohen is a highly experienced professional with over 20 years of experience in the finance industry. She has a deep understanding of corporate finance and global-macro research, which she leverages to provide valuable insights to her clients. Nama is an accomplished buy-side trader who has a proven track record of generating significant returns for her clients.
Rivian, which manufactures electric commercial vehicles, has been experiencing price increases for several days that make investors wonder what is happening in the stock and whether it will be able to reach Tesla's record, which has risen for 13 consecutive days.
It seems that all that is required are good production results and a very high rate of shorts, which signals that most investors believe that the stock will fall so that Rivian will not stop rising. The percentage of shorts in the stock stands at 12%, a figure that is close to an all-time high. For comparison, the average percentage of shorts for a company whose stock is in the S&P index is only 2%. It is very likely that the high percentage of shorts caused a short squeeze which sent the stock up.
Earlier this month, Rivian reported that it produced 13,992 vehicles in the second quarter, beating analysts' expectations of 11,000 vehicles. In addition, if the company manages to reach similar numbers in the third and fourth quarters, it is expected to surpass its forecast for the entire year, which stands at 50 thousand vehicles in 2023.
"There's no denying the stock's extreme positive momentum, but it's made it very tight in the short term," said CappThesis' Frank Cappelli. Kepleri rated the stock as overbought and believes that the increases in the stock will slow down in the near future.
On the other hand, Wedbush analyst Dan Ives wrote that "Rivyan changes direction when production increases and the bears have gone to sleep. The stock is considered cheap among technology stock players and now more investors are starting to join." Ives gave a buy recommendation for the stock with a target price of $30.
Recently Rivian announced that it will adopt the charging standard of Elon Musk's company. The company announced that Rivian vehicle owners will be able to use approximately 12,000 Tesla superchargers that are deployed throughout the US and Canada starting in 2024. According to the company's announcement, Rivian will implement Tesla's charging connection standard in its vehicles starting in 2025.
In its latest reports, Rivian recorded a loss per share of $1.25 on revenues of $661 million, compared to analysts' expectations of a loss per share of $1.56 on revenues of $660 million.
Rivian ended the quarter with cash worth $11.24 billion, compared to the expected $10.86 billion. The company confirmed its forecast for the coming year, the company's production forecast is about 50,000 vehicles, while the market expectation is 51,462 vehicles. Rivian is traded at a value of 23.9 billion dollars, this after the company's stock increased by 37% since the beginning of the year and decreased by 20% in the last year as a whole.
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Please note that the article should not be considered as investment advice or marketing, and it does not take into account the personal data and requirements of any individual. It is not a substitute for the reader's own judgment, and it should not be considered as advice or recommendation for buying or selling any securities or financial products.
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The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
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