Why Rivian Stock Got Wrecked Today
Rivian Automotive (NASDAQ: RIVN) stock slid 6.7% through noon ET on Thursday -- but not because of any mistake that Rivian made.
This time, the blame belongs to Ford Motor Company (NYSE: F), which just declared a price war in electric trucks, and turned Rivian stock into roadkill in the process.
Any day now, Ford archrival General Motors (NYSE: GM) will begin selling its new Silverado EV electric pickup truck in competition with Ford's F-150 Lightning. Ford saw its automotive rival inching closer in the rearview, however, and is gunning the motor to stay ahead -- lowering the price of some F-150 Lightning models by as much as $5,500, as CarsDirect.com reported this week.
Source Fool.com
General Motors Corp Stock
€74.98
0.050%
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