How Others Players Are Doingįord Motor Co.
For his part, Soros seems to have effectively turned his $2 billion into “just” $1.17 billion, which either supports or refutes whatever conspiracy theory the QAnon people are selling this week. Rivian stock has gone from an all-time high of $179.46 on November 16 to just $58.85 at market close Friday, putting the stock down 43% since the new year. With delays stacking up on delays, the Irvine, California-based Rivian said in December it expected production to fall “a few hundred vehicles short” of its 2021 target of 1,200 due to supply chain constraints and the debacle surrounding Rivian’s battery-making partnership with Samsung having “sent its share pricing into a tailspin,” according to Daniel Zlatev at Notebook Check. Precisely how much it hasn’t paid off yet is changing quickly, however. And, while a cursory reading of that headline might give the truest of RIVN believers hope, a little digging shows that the Soros Fund’s bet hasn’t exactly paid off - at least, not yet. Soros’ Soros Fund Management, LLC investment vehicle purchased 19,835,761 shares of Rivian stock sometime in Q4 of 2021, at a reported price $2 billion (US).
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