Software Stocks Brushes Off Mizuho Upgrade

Core Viewpoint - Rubrik Inc (NYSE:RBRK) is experiencing a slight decline in stock price despite receiving an upgrade to "outperform" from "neutral" by Mizuho, which believes the stock is undervalued and possesses competitive strengths compared to peers [1] Group 1: Stock Performance - Rubrik's stock is currently trading at $70.93, down 0.9% in the morning session [1] - The stock has increased by 60% year-over-year, indicating strong performance despite recent struggles [2] - Support has been established at the $70 price level, with significant moving averages above [2] Group 2: Options Activity - There has been a notable increase in call options activity, with the 10-day call/put volume ratio ranking higher than 87% of readings from the past year [2] Group 3: Short Interest - Short interest in Rubrik has risen by 2.4% in the latest reporting period, now accounting for 8.6% of the stock's available float [3][4] - At the current average daily trading pace, it would take over three days for short sellers to cover their positions [3][4]