Shares of Rivian briefly fell below their IPO price last week (by as much as 16.5% to $75.13) in what Autoblog described as a broader selloff among electric vehicle makers “as the race for market share intensifies with legacy companies ramping up EV production.” Autoblog said the price fell below the debut price of $78 for the first time, “before closing the day at $87.33, down just under 3%.” Tesla, Lucid Group, and Fisker also lost ground. (Source: Autoblog) Read the original story…
Todd Phillips is the editorial director of Universus Media Group Inc. and the editor of Canadian auto dealer magazine. Todd can be reached at tphillips@universusmedia.com.
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