Thread regarding Ford layoffs

Ford selling Rivian stock, one less excuse for poor performance

We must need the cash considering how many incomplete vehicles are just sitting outside.

Ford Motor is selling 8 million of its Rivian Automotive shares, with the insider lockup for the stock of the once high-flying electric vehicle maker is set to expire on Sunday, sources told CNBC’s David Faber.

The automaker currently owns 102 million shares of Rivian. Ford will be selling the shares through Goldman Sachs, sources said.

The lockup defines a period of time after a company has gone public when early investors and company insiders cannot sell their shares. That ensures the IPO is carried out in an orderly manner and does not flood the market with additional shares.

Ford declined to comment, when contacted by CNBC.

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Post ID: @OP+1gDmVYGR

6 replies (most recent on top)

Has rivian even sold anything yet? I have only seen 2 driving on the roads in southeast Michigan. Whats their excuse?

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Post ID: @2zyk+1gDmVYGR

Rivian at $22.78 this morning. Going to have an impact on financials as we recognized the gain in share price to mask Q4 and YE performance.

Anyone believe that leadership will be held accountable for this disaster?

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Post ID: @2umd+1gDmVYGR

Ford has and always will be a trade. Anyone thinking that Ford is an investment is out of their mind. You got to ride the waves if you want to make money. The smart money got out at the end of last year. The entire market stinks right now and the chip shortage is not helping at all.

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Post ID: @1yhu+1gDmVYGR

If your keeping score, IPO price was $78/share and Ford's investment was roughly $1 Billion (12%).

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Post ID: @1jfd+1gDmVYGR

More pain coming as we sold 8 million of almost 100 million owner. No expectation that the remaining shares will sell for anything higher. Can't wait to see the next quarterly report.

Shares of electric-truck startup Rivian Automotive RIVN –14.48% were falling early Monday. Ford Motor F –2.37% is the main reason, but there is something else troubling investors.

Just look at the overall market. Everything is lower, including shares of early Rivian (ticker: RIVN) investors Ford (F) and Amazon.com AMZN –1.42% (AMZN).

Ford is a big part of the problem for Rivian on Monday. The auto maker is planning to sell 8 million of the roughly 100 million shares of Rivian the company holds, according to multiple reports. Ford was an early investor in Rivian and the lockup on insider shares sales following Rivian’s initial public offering in November ends Monday. Ford declined to comment on the potential sale.

Rivian stock was down more than 9% in premarket trading. News that a large block of stock is hitting the markets can send any stock lower. Overall market sentiment isn’t helping Rivian shares either. S&P 500 and Dow Jones Industrial Average futures were about 1.8% and 1.5%, respectively, continuing the severe selloff of recent days

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Post ID: @1ivb+1gDmVYGR

Sell low, good strategy. Joke was they could of dumped after the IPO. The reality is they knew Rivian was a pile but still pushed forward. When the skateboard project was deemed non viable, we should of dumped right then and there. With no hookup on product, Rivian is of little value. Pure sunk cost fallacy which screams a case study write up so future leaders do not make the same mistake. Amazon will inevitably own them outright anyways because Jeff Bezos is in a di-k measuring contest with Elon Musk.

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Post ID: @onw+1gDmVYGR

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