Why Rivian Automotive Stock Is Sinking Today
Shares of Rivian Automotive (NASDAQ: RIVN) are falling on Friday. The company's stock had lost 3.8% at 12:30 p.m. ET but fell as much as 7.8% earlier in the day. The gain came as the S 500 lost 0.7% and the Nasdaq Composite lost 1%.
The electric vehicle maker reported mixed earnings yesterday after the market closed. The stock was also affected by news of a new recall.
Rivian's Q4 numbers were solid, including a gross profit -- the company's preferred metric, which accounts for cost of production but excludes other costs -- of $170 million. This is the first time the figure has been positive for Rivian.
Source Fool.com
