But Why!!! Ford Sold 8 Million Popular SUV Startup Rivian EV Shares

Ford Sells Rivian Share After IPO Offering

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A sale has happened might provide some relief for weary Rivian (ticker: RIVN) investors worried about the potential stock sale.

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Ford Sells Rivian Share- Company Performance

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Ford disclosed in a Form 4 filing late Tuesday that it sold 8 million of the Rivian Share, at a price of $26.80, to raise $214.4 million.

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Ford Sells Rivian Share- Share Performance

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The only time that the stock traded at or above $26.80 that day was before 6:18 a.m. Eastern, according trading data provided by FactSet.

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Ford Sells Rivian Share- $5.4 Billion Loss

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Rivian is slated to report first-quarter results after Wednesday’s closing bell, per-share loss of $1.41 and revenue of $132.7 million.

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Ford Sells Rivian Share- Swipe Up!!!

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Ford Sells Rivian Share After IPO Offering

Ford Motor sold 8 million Rivian Automotive shares after the initial public offering lockup expired on Monday.

A sale has happened might provide some relief for weary Rivian (ticker: RIVN) investors worried about the potential stock sale.

Ford Sells Rivian Share- Company Investors

Ford Sells Rivian Share- Company Performance

Rivian shares RIVN, -9.61% tumbled 12.6% in afternoon trading Tuesday toward their lowest-ever close.

Ford disclosed in a Form 4 filing late Tuesday that it sold 8 million of the Rivian Share, at a price of $26.80, to raise $214.4 million.

Ford Sells Rivian Share- Ford Disclosed

Ford Sells Rivian Share- Share Performance

Rivian’s stock had tumbled 20.9% to a then-record low of $22.78 on May 9 after the Ford Announcement.

The only time that the stock traded at or above $26.80 that day was before 6:18 a.m. Eastern, according trading data provided by FactSet.

Ford Sells Rivian Share- Traded Above

Ford Sells Rivian Share- $5.4 Billion Loss

In Ford’s first-quarter report out in late April, the automaker said it recorded a $5.4 billion unrealized loss on its Rivian equity.

Rivian is slated to report first-quarter results after Wednesday’s closing bell, per-share loss of $1.41 and revenue of $132.7 million.

Ford Sells Rivian Share- Q1 Quarter Results

Ford Sells Rivian Share- Swipe Up!!!

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