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Bloomberg
Rivian Closes at Lowest Since IPO as EV Competition Mounts
(Bloomberg) — Rivian Automotive Inc., the electric pickup maker backed by Amazon.com Inc., closed at the lowest level since it started trading in November amid the prospect of growing competition in the EV market.The move — which sent shares briefly below the initial public offering price — extends a drop from Wednesday, when Amazon announced a deal with Stellantis NV to buy electric delivery vans. While Rivian and Amazon said their partnership is unchanged, the deal follows the startup’s own
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