Rivian shares are trading lower after the company reported mixed Q4 financial results and announced a roughly 10% reduction in its salaried workforce.
Portfolio Pulse from Benzinga Newsdesk
Rivian's stock price declined following the announcement of mixed Q4 financial results and a decision to reduce its salaried workforce by approximately 10%.

February 22, 2024 | 1:40 pm
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NEGATIVE IMPACT
Rivian's stock price is likely to face short-term pressure due to mixed Q4 financial results and workforce reduction announcement.
The announcement of mixed Q4 financial results typically generates uncertainty among investors, potentially leading to a negative short-term impact on the stock price. Additionally, the decision to reduce the workforce by about 10% could be perceived as a cost-cutting measure in response to financial pressure, further contributing to negative sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100