RIVN - Rivian CEO's Recent Move Serves as a Good Reminder for Investors
2024-06-23 07:45:00 ET
Rivian Automotive (NASDAQ: RIVN) arguably exited 2023 with more momentum than any electric vehicle (EV) start-up. The company's stock surged 40% this past December on investors' high hopes -- only then to drop 53% so far this year. To say it's been a bit of a roller-coaster ride for Rivian and other EV makers would be an understatement.
More recently, Rivian CEO RJ Scaringe made a move that could give some investors pause. Let's assess what this could all mean -- or not -- for the stock and its outlook.
Rivian CEO RJ Scaringe recently made a move that likely will get investors' attention. Scaringe sold 71,429 shares of the company on June 10 for a value of roughly $821,000. While this action could raise eyebrows, it serves as a good reminder to investors that people can sell stocks for many reasons that aren't solely based on losing faith in the company.
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Rivian CEO's Recent Move Serves as a Good Reminder for Investors