Rivian Automotive CEO Purchases $1 Million Worth of Stock
According to SEC Form 4, on May 16, Robert Scaringe, the CEO of $Rivian Automotive, Inc.$ , purchased 41,000 shares of the company’s Class A common stock at an average price of $25.7772. The total amount of purchased shares is approximately $1.05 million.Following the purchase, Scaringe owns 169,175 shares directly, 4,337,997 through a trust and 4,595 by LLC.Shares of Rivian are down 76% year-to-date given the correction in high-multiple stocks and supply chain issues faced by the EV maker.
Why Tesla Shares Are Falling As Musk Launches Bid for Twitter Takeover
Tesla CEO Elon Musk offered to buy social media platform Twitter on Thursday. Tesla shares were falling as investors might be worried about distraction for Musk as Tesla ramps up production at the new