Is Ford selling its stake in Rivian?

May 13 (Reuters) - Ford Motor Co (F.N) sold 7 million shares of electric carmaker Rivian Automotive Inc (RIVN. O) for about $188.2 million, or $26.88 apiece, the U.S. automaker said in a filing on Friday. Ford now holds 86.9 million shares in the California-headquartered company.

Does Ford still hold Rivian stock?

Ford previously owned around 102 million shares in the EV startup, or around 11.4 percent of the company, so it will still retain a sizable stake in Rivian.

How many Rivian shares does Ford have?

It Still Holds 94 Million Shares in the EV Startup. Ford Motor sold 8 million Rivian Automotive shares after the initial public offering lockup expired on Monday.

What percentage of stock does Ford own in Rivian?

Ford currently owns an impressive 12 percent of Rivian's shares, which equates to about 102 million shares in total. According to multiple reports, this Sunday, May 8, 2022, marked the expiration of an insider lockup period. The lockup follows the initial share sale that went down in November 2021.

Does Ford own Rivian shares?

About 720 million Rivian shares are estimated to have become eligible for sale as the market opened. The company had a float of about 182.5 million shares as of April 11, according to Bloomberg data. Amazon owns about 17.7 percent of Rivian, while Ford owns 11.4 percent.

Jim Cramer believes Ford will sell its Rivian stake for its own EV ventures

Is Ford pulling out of Rivian?

A stock lockup period for company insiders and early investors such as Ford expired Sunday. Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company's plant in Normal, Ill. CNBC's David Faber reported Saturday that Ford would sell 8 million of its Rivian shares through Goldman Sachs.

Who owns most shares of Rivian?

Rivian shares have dropped nearly 21% since CNBC reported the sale over the weekend. T. Rowe Price Associates is the largest shareholder in the electric car maker with an 18.2% stake, followed by Amazon.com Inc's 17.7% stake.

Why is Ford selling their Rivian stock?

When asked about reasons for sales, Ford told Barron's in an emailed statement that the company “was to monetize some of the gains” on its Rivian investment. That, of course, is another good reason for the company to sell part of its stock.

Is Rivian worth more than Ford?

The $100bn car company you may not have heard of: It's never made a profit... but electric truck-maker Rivian is worth more than GM and Ford.

Who is backing Rivian?

Rivian is backed by Amazon.com Inc AMZN 3.58%▲. and Ford Motor Co., F 3.89%▲ and recently began selling its first all-electric pickup truck—a model that targets well-established names such as the Ford F-150 and General Motors Co.'s Chevrolet Silverado.

How big is Ford's stake in Rivian?

Between the two sales, Ford's stake in Rivian sits just below 10%. At the time of Rivian's initial public offering in November, Ford had a 12% stake in the company. In this latest transaction, Ford sold the 7 million shares for $26.88 each, for a total of roughly $188.2 million.

How much did Ford lose on Rivian?

Amazon owns an 18% stake in the electric vehicle maker. Earlier this week, Ford reported an overall $3.1 billion loss for the first quarter, due to its mark-to-market loss of $5.4 billion on its Rivian investment.

Who bought Rivian stock?

Rivian 's CEO R.J. Scaringe stepped up and bought the dip in his company's stock, purchasing 41,000 shares of the electric vehicle start-up on Monday. The purchase, disclosed late Monday, seems to be helping shares Tuesday.

Is Ford apart of Rivian?

Ford Made Bank On Its Rivian Investment With Over 1,000-Percent Return.

How high is Rivian stock going?

According to the algorithm-based Rivian share price prediction from Wallet Investor, as of 16 May, the outlook for the Rivian share value was primarily bearish. The market data provider expected the stock price to plunge to $0.000001 by November 2022 and remain there though 2023, 2024, 2025, 2026 to May 2027.

Is Ford worth investing in 2021?

Ford's investment in electrification helped push shares to a 140% gain in 2021. That led to Ford briefly surpassing General Motors (GM) in market cap for the first time in five years.

Who has stake in Rivian?

On Wednesday, Ford took a $5.4 billion loss on its 12% stake in Rivian. Amazon has a roughly 18% stake, according to FactSet, investing a total of more than $1.3 billion into the company.

How much is Ford's stake in Rivian worth?

May 10 (Reuters) - Ford Motor Co sold eight million shares of electric-car maker Rivian Automotive Inc for $214 million, or $26.80 apiece, the U.S. automaker said in a filing on Tuesday.

What is Ford doing with Rivian?

Both Ford and Amazon made the investment in Rivian for strategic considerations. Ford started to ramp up its EV production in 2021 and initially planned to co-develop an electric vehicle with Rivian. Co-development plans were later scrapped.

What is Ford stake in Rivian?

Adjusted earnings before interest and taxes were $2.3 billion," Ford said. Ford's stake in Rivian was valued at $5.1 billion on March 31, down more than half from $10.6 billion at the end of 2021, the company said.

What is the problem with Rivian?

Rivian found that the passenger seats in the 2022 Rivian R1T have a defect that may not deactivate airbags when detecting a child seat. The National Highway Traffic Safety Administration (NHTSA) considers this to be a safety risk.

Who owns Rivian company?

Rivian founder and CEO RJ Scaringe bought 41,000 shares of company stock worth about $1 million, a securities filing posted Monday afternoon shows. The latest proxy filing, which pre-dated this purchase, shows Scaringe owns 11.99 million shares of class A stock, or about 1.3%, and 7.82 million class B common stock.

How many Rivian have been sold?

The company said it delivered 1,227 vehicles to customers during the past three months, bringing its total number of deliveries to 2,148. Rivian said it now has over 90,000 reservations for its R1T and R1S electric vehicles, up from 83,000 as of its last update in March.

How do I buy Rivian stock?

What stock did George Soros buy?

According to a filing with the Securities and Exchange Commission on Friday, Soros Fund Management bought nearly 20 million shares of Rivian RIVN, -5.10% last quarter, worth about $2 billion at the time.