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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
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