Rivian shares are trading lower amid weakness in EV stocks. A rise in Treasury yields has also weighed on growth stocks.
Portfolio Pulse from Benzinga Newsdesk
Rivian shares are trading lower due to a general weakness in EV stocks and a rise in Treasury yields, which has negatively impacted growth stocks.
October 18, 2023 | 5:15 pm
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Rivian's stock price is experiencing a downturn due to overall weakness in the EV market and rising Treasury yields.
Rivian's stock price is directly impacted by the overall performance of the EV market. The rise in Treasury yields is causing investors to shift away from growth stocks like Rivian, leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100