Rivian Automotive shares are trading lower. The stock may be moving in sympathy with Lucid Group after the company reduced the price of its Air Pure sedan.
Portfolio Pulse from Benzinga Newsdesk
Rivian Automotive shares are trading lower, possibly in sympathy with Lucid Group after the company reduced the price of its Air Pure sedan.
August 07, 2023 | 7:49 pm
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Rivian Automotive's stock is trading lower, potentially due to Lucid Group's price reduction of its Air Pure sedan.
Rivian Automotive's stock is trading lower, which may be a reaction to Lucid Group's decision to reduce the price of its Air Pure sedan. This could indicate a competitive pricing pressure in the electric vehicle market, which may negatively impact Rivian's profitability and market share.
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