Why Rivian Stock Plunged Today
The EV maker is selling stock -- and investors followed suit.
Overview
Shares of Rivian Automotive (NASDAQ: RIVN) reversed course on Tuesday after the electric vehicle (EV) manufacturer announced a sizable capital raise.
Image source: Getty Images.
On Thursday, Rivian announced that it delivered 12,194 vehicles in the second quarter, handily exceeding its guidance of 9,000 to 11,000 deliveries. Strong sales of the company's pickup trucks and delivery vans contributed to the outperformance.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.