Thursday, April 28, 2022
in only 6 months, Ford has lost 5.4 billion dollars... but not on Ford products, it's just from one investment in electric vehicles, Rivian
In November 2021, Rivian – the EV startup that Ford partially hitched its wagon to several years ago – had an immensely successful IPO. As Ford Authority reported at the time, its market cap quickly blew past both Ford and GM, and for a period of time existed as the most valuable company with zero revenue. However, the fledging EV automaker has experienced a number of significant setbacks since then, and combined with the uneasiness exacerbated by the ongoing chip shortage and the situation in Ukraine, has resulted in a significant contraction of its stock price. Now, Ford has officially disclosed how much it’s lost by holding on to its Rivian shares, and it’s a staggering $5.4 billion.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment