It hasn’t all been plain sailing for Rivian since the EV startup first hit the stock exchange in 2021 and each share in the company commanded a hefty $129.95. Fast forward to this month and those same shares have plunged nearly 90 percent, including a 20 percent drop this year, and are currently trading at just $14.74.
And there’s more bad news this week. Rivian’s poor performance has resulted in it losing its spot on the prestigious Nasdaq 100. The index lists the 100 biggest non-financial firms on the New York-based Nasdaq stock exchange and includes heavy hitters like Apple and Microsoft.
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