(Tiper Stock Exchange) – Fordhistoric US automaker, has reduced its stake to 1.15%. in Rivian Automotive, a US manufacturer of electric pickup trucks, according to an SEC filing. Ford held an 11.4% stake in Rivian at the end of 2021 when the company went public, only to reduce it over the course of 2022.
Last week Rivian announced it was staying laying off 6% of its workforce in an effort to cut costs. The company is focusing resources on increasing vehicle production and achieving profitability, the CEO said in an email to employees.
Rivian Automotive, register one decrease of 1.80% and stands at USD 19.07. Operationally, a downward extension of the curve is expected with a support area seen at 18.69 and subsequent at 18.32. Resistance at 19.3.