Rivian Stocks Surge 9% With UBS Upgrade Facing an $80 Million Automotive Gap

What happened: Rivian (NASDAQ:RIVN) rose 9% to $13.26 after UBS upgraded the shares to Buy from Neutral, keeping its $17 target. Key numbers: Shares up 9% to $13.26 at 10:10 a.m. ET on November 2. UBS target $17. Automotive revenue $1.550 billion, gross loss $80 million, gross margin negative 5.2%. Software and services gross profit $256 million. Why it matters: The upgrade gives investors a fresh reason to revisit Rivian after its recent selloff, but the automotive segment remains money-losing, and sustained progress in vehicle margins is framed as the key test as R2 scales. Market: +8.8% today ($13.22), -31.9% YTD, 2.0x vol — as of 20:18 UTC

Rivian (NASDAQ:RIVN) rose 9% to $13.26 after UBS upgraded the shares to Buy from Neutral, keeping its $17 target.

The upgrade gives investors a fresh reason to revisit Rivian after its recent selloff, but the automotive segment remains money-losing, and sustained progress in vehicle margins is framed as the key test as R2 scales. Market: +8.8% today ($13.22), -31.9% YTD, 2.0x vol — as of 20:18 UTC