technology

Amazon-backed Rivian shares drop 15%, hit record low

Amazon-backed Rivian shares drop 15%, hit record low

Amazon-backed Rivians shares slumped nearly 15% to hit a record low after it published its first result post its US IPO. The California-based company expects production to fall a few hundred vehicles short of its 2021 target of 1,200 due to supply chain constraints. Prior to the fall, Rivian had gained about 40% since its market debut in November..

technology 2021-12-18 Inshorts