Why Shares of Rivian Are Tumbling Today
It's been a bearish start to the shortened trading week, with the S&P 500 dipping 1.4%, but pessimism pertaining to Rivian (NASDAQ: RIVN) has electrified investors today. With two company insiders selling shares, Main Street investors are likely speculating that the EV stock will shift gears and reverse course from its recent rise.
As of 11:02 a.m. ET, shares of Rivian are down 5.1%.
On Friday, regulatory filings revealed that Jeff Baker and Claire McDonough had trimmed their positions. Baker, Rivian's chief accounting officer, sold 2,331 shares last week in a transaction valued at $44,253. In two separate transactions, McDonough sold a combined 4,992 shares, netting the company's CFO $99,997.
Source Fool.com
