Rivian Automotive (RIVN) shares are in a steep downtrend. If they reach the $12.90 level the selloff may end.
Rivian Automotive, Inc.
(NASDAQ:RIVN) is trading lower Wednesday.
The shares dropped almost 20% yesterday after the company announced a share offering.
Investors are concerned that this offering will dilute the value of their shares.
If they continue to trend lower, the selloff may end around the $12.90 level.
Rivian down 8% at $18.60 after announcing 75M share equity offering
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17:23 EDT Rivian (RIVN) down 8% at $18.60 after announcing 75M share equity offering4th of July Sale - 70% Off Unlock powerful …
