The sale was just a tiny sliver of Ford's total position, which is still just under 94M shares to rep a 10.5% stake in Rivian.
Ford (F) sold near the low end of RIVN's 52-week trading range of $21.00 to $179.47. It is unknown if Ford (F) will continue to sell off its position in Rivian (RIVN) or hold for the long term. Amazon is also a key investor.
Shares of Rivian Automotive (RIVN) moved up 2.11% premarket on Wednesday with the electric vehicle maker's earnings report scheduled for after the market closes.