Rivian Automotive shares may be poised to flood the market as the post-IPO lockup period for the electric vehicle maker expires on Sunday. Ford is reportedly one of the companies that will be selling part of its stake. Ford plans to dump 8 million of its 102 million share stake, according to the report.
Rivian shares closed recently at $28.79, down 84% from the high. Ford reported a net loss of $3.1 billion in the first quarter. Ford said it suffered a $5.4 billion mark-to-market loss on its investment.