Rivian Stock Slides as Smaller Federal Loan Puts Its R2 SUV Bet Under the Microscope
Rivian Automotive stock slid 5.7% to $15.47 late Friday morning, after the EV maker announced its federal loan for a new Georgia plant would drop to as much as $4.5 billion. That update landed as Rivian boosted the site’s initial planned capacity and posted stronger-than-expected quarterly revenue.
