RIVIAN

Rivian electrified pickup maker shares fall sharply

Last November, Rivian, a fledgling American company that had just started supplying limited quantities of electric pickups and crossovers, went public on the stock market at $78 a share. In the future, the rate rose to $180, but after that, as investors sobered up, it steadily dropped. This week, the quotes dropped to $ 25 due to news about the departure of the capital of Rivian by two large investors.

CNBC, citing its own sources, reported that Ford Motor Company, which participated in the November IPO, lured Goldman Sachs to sell 8 million shares of Rivian it owned at $26.90 a share. Some other Rivian shareholder hired JPMorgan Chase to sell 13 million to 15 million shares of the automaker at a similar price. Investors were waiting for the moment when the ban on the sale of Rivian's shares would be lifted after participating in the initial public offering. The company's stock quotes immediately dropped 14.10% to below the $25 per share level.

The fall optimism of investors, which for a time had raised Rivian's capitalization to multiples of several eminent automakers at the same time, began to evaporate as the company's management began to recognize the need to increase product prices and reduce sales volumes. production this year halved to 25,000 machines due to problems with raw materials and components. Since the beginning of the year, Rivian shares have dropped 72%. The company is scheduled to release quarterly financial results this week, so the share price will likely have time to change several times over the next few days, depending on the presence or absence of Rivian's success in the previous reporting period. 

Image source: Rivian