Rivian Is Falling, But 1 Surprise Winner Is Helping Lift the Nasdaq
2022 has gotten off to a volatile start on Wall Street, and even the high-flying Nasdaq Composite (NASDAQINDEX: ^IXIC) hasn't been immune from the ups and downs of the stock market. After seeing some losses earlier in the week, though, the Nasdaq got a much-needed boost on Wednesday. By just before noon ET, the index was up more than 1%.
The more favorable market environment didn't prevent some companies from seeing losses in their share prices. One notable decliner was Rivian Automotive (NASDAQ: RIVN), which made a controversial move that risks the loyalty of its early adopters. However, a somewhat surprising company from the retail industry was able to post gains that helped contribute to the Nasdaq's gains. First, let's take a closer look at what's sending Rivian's stock lower, and then you'll learn the identity of this strong-performing retailer.
Shares of Rivian Automotive were down more than 12% late Wednesday morning. The electric truck manufacturer has faced a difficult dilemma, and the decision it made led to negative publicity from those who see Rivian's move as violating an implicit contract between customers and the company.
Source Fool.com
