(Bloomberg) — Shares of Rivian Automotive Inc. sank 21% as some early stakeholders got their first chance to unload shares on Monday.
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Selling restrictions on certain Rivian insiders and investors ended on Sunday, freeing up a sizable chunk of the electric-vehicle maker’s float for public trading. The stock has now collapsed 87% from its November high. Now, the focus turns to the company’s two most prominent corporate backers — Amazon.com Inc. and Ford Motor Co….
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