Shares of Rivian Automotive (NASDAQ: RIVN) declined by 8% on Monday after Ford (NYSE: F) halted its plans to build an electric vehicle (EV) with the upstart automaker. Ford took a $500 million stake in Rivian in April 2019. At the time, Ford and Rivian planned to jointly create an "all-new, next-generation battery electric vehicle" using Rivian's development platform. Read More...
Motley Fool
Why Nio Stock Blasted Higher Today
Investors in Nio (NYSE: NIO) are finally getting a breather, as the electric vehicle (EV) stock began the week on a solid note after plunging nearly 9% last week. As of 12:30 p.m. ET Monday, Nio was trading up 7.3% after having surged 10.8% earlier in the day on rumors about its much-awaited flagship luxury sedan,the ET7, touted to compete with Tesla (NASDAQ: TSLA). Earlier this month, Nio dropped a bomb when it reported a sharp decline in deliveries for October, down 27.5% year over year, even as rivals continued to race ahead.
