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Rivian stock falls for second day following Amazon-Stellantis deal

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R.J. Scaringe, Rivian’s CEO, introduces the world to his company’s R1T all-electric pickup and all-electric R1S SUV at the Los Angeles Auto Show in Los Angeles, California, November 27, 2018.

Mike Blake | Reuters

Shares of Rivian were down another 6.5% to a new 52-week low on Thursday, a day after automaker Stellantis announced that Amazon would provide its cloud services and in-car dashboard software.

Rivian stock is now down more than 18% for the week, after falling 11% during Wednesday’s trading session, and is about 53% off its high on Nov. 16. If it holds until markets close, the move is set to shave more than $5 billion from Rivian’s market cap, bringing it to about $75.5…



Source cnbc.com

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