Rivian's Down Again, but This Nasdaq SaaS Stock Is Falling Harder

The mood on Wall Street seemed a bit better on Friday morning, as investors reacted positively to the potential for an eventual end to the war in Ukraine. That was enough to send futures on the Nasdaq Composite (NASDAQINDEX: ^IXIC) up nearly 1.75% as of 7:30 a.m. ET, even as economists at a major investment banking company cut their consensus for U.S. economic growth and predicted growing odds of a potential recession.

Despite the bounce, disappointment about earnings results from late Thursday made its presence felt in premarket trading on Friday. Rivian Automotive (NASDAQ: RIVN), which has been the subject of some controversy lately, saw further declines after releasing its financial results. However, the drop in Rivian shares was small compared to what one software-as-a-service stock suffered in the Friday premarket.

Image source: Rivian.

Source Fool.com