Why Rivian Automotive Stock Sank on Friday
Shares of electric truck and SUV manufacturer Rivian Automotive (NASDAQ: RIVN) are suffering a mini sell-off on Friday afternoon, with shares down 2.2% as of 3:30 p.m. ET, and for a very strange reason: It's trying to sell a lot of electric trucks and SUVs.
The problem, it seems, is how Rivian is selling them.
Specifically, as The Wall Street Journal reports, Rivian is holding a sort of used car lot sale of its R1T electric trucks this Saturday, with the crucial caveat that these are not actually used EVs at all, but rather brand spanking new EVs.
Source Fool.com
