Why Rivian Stock Is Sliding Premarket Today
Portfolio Pulse from Shanthi Rexaline
Rivian Automotive (RIVN) shares fell in premarket trading as the company is set to lose its position in the Nasdaq 100 Index due to its weighting falling below 0.1% for two consecutive months. ON Semiconductor (ON) will replace Rivian in the index.
June 20, 2023 | 11:29 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Rivian's removal from the Nasdaq 100 Index may negatively impact its stock price as it will be excluded from funds that track the index.
Rivian's removal from the Nasdaq 100 Index is a significant event for the company as it will no longer be included in funds that track the index. This exclusion may lead to reduced demand for the stock, resulting in a negative impact on its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
ON Semiconductor (ON) will replace Rivian in the Nasdaq 100 Index, which may positively impact its stock price due to increased demand from index-tracking funds.
ON Semiconductor's inclusion in the Nasdaq 100 Index is a positive development for the company as it will now be included in funds that track the index. This inclusion may lead to increased demand for the stock, resulting in a positive impact on its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100