Rivian's trend is quite interesting. Currently, many CTs seem to be chasing high and building positions, but this could be a trap.

The key question is: where is the real downside catalyst? I see a few potential risk points:

First is tariff pressure. If trade policies tighten, costs will be directly impacted, which significantly affects the profit margins of new energy vehicle companies. Second is supply chain bottlenecks—if key raw materials like silver are controlled, production costs will jump. Lastly, if earnings reports underperform expectations, market enthusiasm will quickly cool down.

The risks of positioning at current high levels are indeed considerable. Without solid fundamental support, a rebound is easily turned into a good opportunity for a sell-off.