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EV maker Rivian shares have record drop after convertible bond offering launched

2 years 11 months ago
Shares of Rivian Automotive Inc fell by nearly 23% on Thursday, the biggest daily percentage decline since their debut in 2021, after the electric vehicle maker unveiled plans to issue $1.5 billion worth of convertible green bonds. Irvine, California-based Rivian expects the bonds, which mature in October 2030 and can be converted to either cash or its shares, will help it to "de-risk" the launch of its R2 sports utility vehicle in Georgia, a company spokesperson told Reuters on Wednesday.
Reuters

Why Lucid, Fisker, and Canoo Stocks Got Hit Today

2 years 11 months ago
What happened Bad news from luxury electric truckmaker Rivian Automotive (NASDAQ: RIVN) hurt shares of its electric vehicle (EV) peers on the stock market Thursday morning, sending Lucid (NASDAQ: LCID) stock down by as much as 9.5%, subtracting 7.4% from Fisker (NYSE: FSR), and t
The Motley Fool

US regulators push for recall of 52 million air bag inflators

2 years 11 months ago
U.S. National Highway Traffic Safety Administration (NHTSA) officials on Thursday told a public hearing the government should require the recall of 52 million air bag inflators produced by auto suppliers ARC Automotive and Delphi Automotive because they may rupture and send metal fragments flying.
Reuters

Stock Market News for Oct 5, 2023

2 years 11 months ago
Wall Street closed higher on Wednesday, driven by tech and discretionary stocks. Stocks rebounded on weaker-than-expected jobs numbers. All of the three major stock indexes ended in the green.
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