Why Rivian Plunged 33.2% in October
Shares of electric-truck maker Rivian Automotive (NASDAQ: RIVN) plunged 33.2% in October, according to data from S&P Global Market Intelligence.
The company had actually entered the month amid some optimism. But a combination of events -- some unique to the company, and some within the electric vehicle sector -- conspired to lead to a terrible month for Rivian.
Like all loss-making companies, Rivian suffered along with the increases in long-term rates. But Rivian was especially hit as it raised money earlier than investors thought necessary.
Source Fool.com