Analyst Worries This Auto Stock Isn't Sustainable

Group 1 - Rivian Automotive Inc shares are down 2.9% to $14.45, ending a four-day winning streak after a downgrade from Jefferies from "buy" to "hold" due to concerns over the R2 program, partnerships, and weak demand outlook [1] - Despite the drop, Rivian's stock remains above its year-to-date breakeven mark after reaching its highest level since January [2] - Nearly 70% of the 26 covering brokerages have a "hold" or worse recommendation, with eight analysts still maintaining a "buy" rating and a 12-month average price target of $14.59, indicating potential for further downgrades [3] Group 2 - Short interest in Rivian has increased by 11.7% over the past two reporting periods, now accounting for over 20% of the stock's total available float, suggesting significant bearish sentiment [4]