With the mega gains Rivian Automotive has experienced in pre market by adding almost 50% to its price the news has gripped the EV investor community.
RIVN stock has been victim of trading. A single trader purchase $14 call options and $13 call options both set to expire on June 28.
If pre market gains hold and extend even further until the June 28 deadline the profit will multiple.
If Rivian stock currently trading at $16.95 in pre market maintains its upward momentum the holder of options stands to make substantial profits that measure in million from this investment of $16,000.
RIVN stock rise has caused millions of dollars worth of losses to short sellers with high interest of 18.85% in Rivian shares and average coverage of 4.48 days the most of them liquidated.
The high level of short seller activity combined with stock surge could cause a potential short squeeze of RIVN stock pushing its price hike.
The bad performance of RIVN stock since start of 2024 where if lost 43% of its value during past six months there have been only 7 sales for total of 128,945 RIVN shares have been worth over $1 million.
