Why Rivian Stock Popped Today

Rivian Automotive's stock surged over 8% following a UBS upgrade to buy and strong Q3 earnings. The company reported 38% revenue growth to $2.2 billion and 46% increase in vehicle deliveries, driven by its new R2 midsize SUV. UBS analyst Joseph Spak projects a 30% upside to $17, citing accelerating R2 sales and growing software/services revenue as catalysts for margin expansion and profitability.