[vhimotu]

Ford in its first-quarter financial report suffered a loss of $3.1 billion, largely due to a decline in the value of its investment in Rivian.

The decline in Rivian’s share price since its IPO in November had a major impact on Ford’s profitability. At the beginning of the year, Rivian’s stock was around $102. However, they fell to ~$50 on March 31, 2022. Today, the stock opened at just $31.59.

Ford began investing in Rivian in 2019. At that time, the company announced a joint venture to develop electric trucks. The plan did not materialize, but Ford retained its investment in Rivian.

Source: Ford Loses $3.1 Billion Due To Rivian Stock and Chip Shortage

 

[St00k]

Interesting that I think the sell off of the stock is really just as a way to make their stock look better.

So once they sell off the stock they can then post much rosier numbers over the next few quarters.

I think Ford is trying to position itself more like a tech company from a stock perspective.