This stock trader turned $16,000 into $1 million profit in hours

Core Insights - Rivian Automotive (NASDAQ: RIVN) has seen a significant pre-market price increase of nearly 50%, attracting attention from the EV investor community [1] - A trader has engaged in insider trading by purchasing $14 and $13 call options, which could yield substantial profits if the stock maintains its upward trend [1][3] - The surge in RIVN stock has resulted in considerable losses for short sellers, with a short interest of 133,477,368 shares and a short interest ratio of 4.48 days [4] Group 1: Stock Performance - RIVN stock is currently trading at $16.95 in the pre-market, and if the gains hold until the June 28 deadline, profits from options could multiply significantly [1][3] - The stock has experienced a decline of 43% since the beginning of 2024, leading to minimal insider trading activity in the past six months, with only seven sales totaling 128,945 shares worth over $1 million [5] Group 2: Short Seller Activity - The high short interest of 18.85% in Rivian shares indicates a significant number of short sellers, many of whom have faced liquidation due to the stock's surge [4] - The combination of high short-seller activity and the recent stock price increase could trigger a short squeeze, potentially driving the stock price even higher [4]