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Rivian Tumbles After Report of Ford Share Sale at a Discount

Rivian R1T electric vehicle pickup trucks on the assembly line.
Rivian R1T electric vehicle pickup trucks on the assembly line.Photographer: Jamie Kelter Davis/Bloomberg
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Rivian Automotive Inc. sank 17% in U.S. premarket trading after a media report that Ford Motor Co. is selling 8 million of its shares in the electric-pickup maker at a discount.

Ford’s sale is being handled by Goldman Sachs Group Inc., CNBC’s David Faber said in a tweet.