What's Going On With Rivian Automotive Stock?

Rivian Automotive, Inc. RIVN shares are trading higher Tuesday as the broader market rallies after the release of cooling inflation data this morning.

What To Know:

Though Rivian Automotive shares rose over 5% on Monday and are gaining Tuesday, the stock remains down by more than 11% over the last month.

Yesterday, Rivian announced Carlo Materazzo as Vice President, Logistics effective immediately. Materazzo worked at Stellantis North America as VP of Manufacturing before joining the Rivian team.

Rivian Automotive released its third-quarter financial results last Tuesday and reported a quarterly loss of $1.19, beating analyst estimates of a loss of $1.32 per share. Revenue clocked in at $1.337 billion, beating the analyst consensus estimate of $1.327 billion.

According to data from Benzinga Pro, a significant 19.05% of available RIVN shares are being sold short.

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RIVN Price Action: According to Benzinga Pro, Rivian Automotive shares are up 3.49% at $16.76 at the time of publication.

Image: Courtesy of Rivian Automotive, Inc.