Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading higher Tuesday. The stock is experiencing higher than average volume.
What To Know: According to data from Benzinga Pro, RIVN stock experienced above-average trading volume of 59.23 million shares on Tuesday compared to its average volume of 41.05 million.
Rivian also has increased short interest with 16.47% of shares currently sold short.
Tuesday’s rise follows a weaker day for the stock on Monday when Ford (NYSE:F) announced that it was cutting prices on its F-150 Lightning. The decision could be an attempt to drive demand for its chief electric truck, a competitor with Rivian’s R1T.
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RIVN Price Action: Shares of RIVN were up 3.56% at $24.85 at the time of publication, according to Benzinga Pro.
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