Rivian stock dropped 10.1% due to the rollback of EV initiatives by President Trump

From Nasdaq.: 2025-01-24 17:36:54

Shares of Rivian Automotive (NASDAQ: RIVN) dropped 10.1% this week, hitting a low of 12.2% earlier. This decline occurred while the S&P 500 and Nasdaq-100 saw gains of 1.7% and 1.6%, respectively. President Trump announced the rollback of Biden-era EV initiatives, including ending the $7,500 tax credit for EV buyers. This move negatively impacted EV stocks, like Rivian. Despite the uncertainty, Rivian’s CEO remains optimistic, stating that the company will adapt by exploring lower-priced vehicle options. The Motley Fool did not include Rivian in their list of the 10 best stocks to buy now, emphasizing the importance of careful investment decisions.



Read more at Nasdaq.: Why Rivian Stock Plummeted This Week