Last week was another brutal one for Rivian shareholders and I know Wall St. is mercurial, but I've been struggling to understand it.
So far as I can tell, there hasn't been a ton of reasons to decide one way or the other on this company. The news that Amazon would buy vans from Stellantis wasn't great, but shouldn't be the reason the stock is still getting hammered more than a week later.
This article seems to lay the blame at Ford's feet. This relationship has really proven to be a mixed bag, I think. With Ford beating GM to dump money in early, but later cancelling the plan to build vehicles using Rivian's platform, and now signalling that it's planning to sell off its stake.
A major investor in the electric vehicle maker looks to be selling its stake.
What do you guys think, is Ford's involvement in Rivian been good, or bad?