Rivian Falls Most Since November After Amazon’s Stellantis Deal
Rivian Automotive Inc. fell the most since mid-November after Amazon.com Inc., one of its biggest backers and customers, agreed to buy battery-electric delivery vans from rival automaker Stellantis NV.
The decline adds to Rivian’s recent slide after the stock briefly topped $100 billion in market value -- at the time more valuable than Ford Motor Co., also an investor, and General Motors Co. -- following its November listing. As of Wednesday’s close, Rivian’s market capitalization was $81 billion.
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