After building a support zone at $12 - $14, shares of Rivian (RIVN) jumped last week to close at $18.42, up by 12.11% on Dec. 12. Bears, who hold a short interest of 12.95%, are under pressure to cover their bet.
The electric vehicle supplier in the truck sector mentioned artificial intelligence in its AI & Autonomy Day event. It unveiled an in-house autonomy chip and a Gen 3 computer. This may process a Large Driving Model AI stack. So far, its AI driving assistant has recorded over 3.5 million miles of driving on North American roads.
Rivian planned to add LiDAR and radar to its future vehicles. As a result, it will achieve Level 4 capabilities in autonomous driving.
Watch trading platform Robinhood (HOOD). The stock is on the verge of forming a downtrend. It might revisit the support zone of $100 set in the summer. Investors did not expect the platform to post substantially lower trading volumes in November. Crypto volume, options contracts, and equity trading volume fell sharply last month.
In the satellite sector, Planet Labs (PL) closed at $18.24 last week, a new high for the year. In the last quarter, the firm posted revenue of $81.3 million (+33% Y/Y). The firm reported contract wins with the National Geospatial-Intelligence Agency and the National Reconnaissance Office.
