A portion of Ford Rivian shares are expected to die: report

Rivian Automotive The stock may be ready to fill the market during the post-market IPO lock-up period Electric vehicle manufacturer Expires Sunday.

Ford CNBC is one of the companies selling a portion of its shares, according to Seeking Alpha, citing the report.

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Ford plans to sell 8 million of its 102 million shares, the report said.

Shares of Rivian Automotive fell from its successful initial public offering in November.

Rivian went public on November 10 at $ 78 a share. A few days later the stock rose to $ 179.

Amazon Support Rivian Shares Rise in IPO Launch

The stock recently closed at $ 28.79, down 84% from its high.

Another unnamed investor will sell 13 million to 15 million shares, the report said.

Ticker Security Last Change Change%
RIVN Rivian Automotive Inc. 28.79 -1.92 -6.25%
F Ford Motor Co. 14.21 -0.32 -2.20%

Ford reported a net loss of $ 3.1 billion in the first quarter, driven by a steep loss in the valuation of its Rivian shares.

Ford said it had suffered a market-to-market loss of $ 5.4 billion in its investment.

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Amazon recorded its first quarterly loss since 2015, with the bulk of the red ink coming largely from the company’s account for a $ 7.6 billion loss on the value of its stake in Rivian.

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