.JPG "The company logo is seen on a Rivian R1T pickup, the Amazon-backed electric vehicle maker, as it is parked outside the Nasdaq Market site during the company’s IPO in Times Square in New York November 10, 2021. — Reuters pic")
NEW YORK, Jan 6 — Shares of Rivian Automotive Inc fell below their IPO price of US$78 (RM328) for the first time today, alongside a broader selloff in electric vehicle stocks.
Rivian’s shares, which were up during premarket hours, fell as much as 16.5 per cent to US$75.13.
The drop also comes a day after one of Rivian’s biggest investors, Amazon.com Inc, signed a deal with Fiat and Alfa Romeo carmaker Stellantis NV.
Amazon.com and Stellantis said they would collaborate to develop cars and trucks that use the e-commerce company’s software and deploy electric delivery vans made by the Italian carmaker.
Deutsche Bank analyst Emmanuel Rosner said the fall in Rivian shares indicates that investors perhaps assumed Amazon would primarily rely on Rivian vans for its EV fleet and perceived the latest announcement as reducing its opportunity. — Reuters
Source: Malay Mail
A word from our sponsor:
Need Help With Your Personal Finance / Money Issue or need a coach to help you structure or just want to learn the financial skill to self manage your financial matters and retirement. iLearnFromCloud.com
Need to solve a problem quickly, now you can solve it by learning the art of problem solving Art Of Problem Solving
Feeling hungry. Latest food news from Best Restaurant To Eat Malaysian Food and Travel Blog
Memory loss. Need to organize better. Solve problem fast with Free Mind Mapping Software Mind Mapping 101
Need A Customized System Development for your business or Going Paperless XPERT TECHNOLOGIES - Empowering The Paperless Economy
No comments:
Post a Comment