Rivian Drops 25% This Year With $164M of Credits Vanishing in the Second Half
Rivian raised delivery guidance and posted a record gross profit as it prepares for a second-half production ramp without $164 million in regulatory credits.
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3 Articles
Rivian Drops 25% This Year With $164M of Credits Vanishing in the Second Half
Rivian (NASDAQ:RIVN) stock is down 25% year to date (YTD) as of Friday’s close, a slide that stands out inside the electric vehicle cohort even as the broader autonomous and electric vehicle basket has climbed. Rivian shares are sliding again Monday afternoon, down 3% to $14.90. The options market is priced for calm. Rivian’s worst ... Rivian Drops 25% This Year With $164M of Credits Vanishing in the Second Half
D.E. Shaw More Than Doubles Rivian Stake in Q2, Entering the Top Ten
D.E. Shaw & Co. more than doubled its stake in Rivian in the second quarter, buying 12,203,342 Class A shares as the stock rose 15.3%. The New York-based investment firm held 20,832,777 Class A shares on June 30, up 141.4% from March 31, according to a filing with the US Securities and Exchange Commission last Friday. The stake was valued at $361.4 million, up from $129.9 million. The purchase carried D.E. Shaw into Rivian‘s ten largest institut…
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