Investors were disappointed by the absence of updates on Tesla's affordable Model 2 at Elon Musk's "We, Robot" event.

U.S. stocks are rising toward records as JPMorgan Chase, Wells Fargo and other big financial companies rally following better-than-expected profit reports.

Last week, George Gianarikas of Canaccord Genuity shaved $2 per share off his fair value assessment of Rivian stock, for a new level of $28 per share. He maintained his buy recommendation despite the reduction, as even at that lower target the EV manufacturer still has the potential to leap nearly threefold in price.