Source: International Business Times
Rivian Automotive shares plunged more than 10% on Tuesday after the electric vehicle maker announced plans to sell 75 million new shares of common stock in a public offering. Scott Olson/Getty Images Rivian Automotive shares plunged more than 10% on Tuesday after the electric vehicle maker announced plans to sell 75 million new shares of common stock in a public offering, a move designed to raise approximately $1. 5 billion but one that also increases shareholder dilution.
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