Ford Offloads More Rivian Automotive Stock After Lockup Ends
(Bloomberg) — Ford Motor Co. sold more shares of Rivian Automotive Inc. Friday, offloading more than $400 million worth of stock in the electric car maker since the end of a lockup this week.
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The US automotive giant sold 7 million shares of Rivian stock at $26.88 each on Friday, according to a filing, cutting its stake in the company to nearly 87 million shares. The transaction follows the sale of 8 million Rivian shares at $26.80 apiece Monday, after selling…