Ford sells another 7M shares of electric-car maker Rivian

May 15, 2022 9:06 AM ETRivian Automotive, Inc. (RIVN), FBy: Joshua Fineman, SA News Editor159 Comments

Electric Pick Up Truck the Rivian R1T

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  • Ford (NYSE:F) sold an additional 7 million shares of electric-car maker Rivian (NASDAQ:RIVN) on Friday for about $188 million after dumping 8M shares earlier in the week following IPO lockup period expiration.
  • Ford (F) sold 7 million Rivian (RIVN) shares for $26.88/share, according to a regulatory filing on Friday. Ford still owns 87 million Rivian shares.
  • The latest sale comes after CNBC reported last week that Ford and another unnamed investor reportedly plan to dump up to 23M Rivian shares.

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