Is Rivian's CEO A Genuis ?

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RJ Scaringe, CEO of Rivian, recently purchased 41,000 shares of the company's stock. Essentially, the CEO purchased the downturn, which has recently been rather severe.

Rivian's stock has ranked since the company's IPO, which is not unexpected. It's not uncommon for startups to struggle for years - especially in the automotive business. However, the global scenario is currently a disaster across the board, which is badly hurting the market, and it appears that most stocks are suffering significantly.

Ford sold a huge portion of its Rivian shares after it fell considerably. Ford unloaded much more only a few days later. Ford's two Rivian stock transactions amounted for around 15 million shares with a current market value of approximately $400 million. These activities worsened the electric automaker's stock decline, and Scaringe took note and acted.

[mrbizi]

Definitely a smart move. Next is for him to buy into vertical integrated companies. He’s going to need a battery factory.

[Alphahydro]

Ford made a dumb move selling low. Musk needs to diversify and put his Tesla proceeds into a dividend paying ETF or a portfolio of blue chip companies instead of using his shares as a bank.