Rivian Automotive (RIVN) closed up 8.47% at $13.19 on Nov. 2, with trading volume of 64.3 million shares, about 165% above its three-month average of 24.3 million. UBS upgraded the stock to Buy from Neutral/Hold, kept its $17 target, and said the recent sell-off was overdone ahead of the R2 ramp, also expecting solid early R2 demand and a positive automotive gross margin percentage as Rivian exits 2026. Rivian's third-quarter revenue rose 38% year over year to $2.2 billion, with gross profit of $176 million, up $152 million, and the budget R2 became its best-selling vehicle by volume in the quarter. Its Volkswagen joint venture received a $1 billion term loan in October. The same day, the S&P 500 fell 0.50% to 7,542 and the Nasdaq Composite dropped 1.07% to 25,164, while Rivian has fallen 87% since its 2021 IPO.
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Rivianelectric vehiclesUBSVolkswagen
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TSLA
• NeutralTesla, Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Automobile Manufacturers |
| Market cap | $1.6T |
| Close on 11/02/2026 | 403.82 |
| Change that session | +1.00% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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