Rivian Automotive Inc (NASDAQ:RIVN) is brushing off the broad market malaise this morning, last seen up 8.4% to trade at $16.54. Uber Technologies (UBER) announced a $1.25 billion investment in the EV name as part of a lucrative robotaxi launch. The deal will feature 50,000 robotaxis in several countries through 2031, with a minimum 10,000 order and the option for Uber to purchase 40,000 more.
RIVN is now trading at its highest level since a 26.6% post-earnings bull gap on Feb. 13. The shares are still 16% lower in 2026 and 27% off their Dec. 22 roughly two-year high of $22.69, but are now up 45% year over year.
An unwinding of pessimism could fuel a run at those highs. Of the 27 brokerages covering the stock, 16 maintain "hold" or worse ratings. Short interest, meanwhile, has begun to taper off, but the 141.96 million shares sold short accounts for 17.3% of RIVN's total available float.
Options are affordably priced, per Rivian Automotive stock's Schaeffer's Volatility Index (SVI) of 61% that stands in the 11th percentile of annual readings. And with a Schaeffer's Volatility Scorecard (SVS) of 18 out of 100, the security has consistently realized lower volatility than its options have priced in, so a premium-selling strategy could be the move going forward.
