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Stock impact report

Soros fund doubles down on Rivian bet, buys stakes in Lucid, Nio [Yahoo! Finance News]

Rivian Automotive, Inc. (RIVN) 
Billionaire George Soros’s investment fund has doubled down on its bet on Rivian Automotive Inc. and taken new positions on EV makers Nio Inc. and Lucid Motors Inc., according to a filing late Friday.As disclosed in February, Soros’s fund had bought nearly 20 million shares of Rivian, worth about $2 billion at the time.The investment has not paid off amid steep declines for Rivian shares this year, but the fund bought another 6 million shares in the period ended March 31, theFriday filingThat brings the fund’s stake to about 25.9 million shares, worth about $693 million. Rivian shares have lost about 74% this year, compared with losses of around 16% for the S&P 500 index., See also:Rivian has been a ‘train wreck,’ but could be turning a cornerShares of Rivian fell 0.2% in the extended session Friday, after ending the regular trading day up more than 9%.Rivian earlier this week posted a wider-than-expected first-quarter loss and revenue that also disappointed Wall Stre Show less Read more
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