Rivian Automotive (RIVN) Loses 5% as CEO Unloads Stake

We recently published 10 Big Names Crumbling Before 2026. Rivian Automotive, Inc. (NASDAQ:RIVN) is one of the worst performers on Tuesday.

Rivian Automotive extended its losing streak to a sixth straight session on Tuesday, shedding 5.22 percent to close at $19.59 apiece as investors mirrored its chief executive’s disposition of a significant stake in the company.

In a regulatory filing on Monday, Rivian Automotive, Inc. (NASDAQ:RIVN) said that its CEO, Robert Scaringe, unloaded 17,450 Class A common shares at a price of $21.4253 apiece.

The transaction left Scaringe with more than 1.15 million direct shares and 2.63 million indirect shares through a company and a trust.

Additionally, the drop was also driven by the lack of fresh catalysts to spark buying appetite.

Rivian Automotive, Inc. (NASDAQ:RIVN) is an American manufacturer of electric vehicles. For next year, the company is targeting to launch its R2 variant, an all-electric mid-size SUV designed for the adventurous.

For the full year 2025, the company is targeting to deliver between 41,500 and 43,500 vehicles.

In the third quarter alone, Rivian Automotive, Inc. (NASDAQ:RIVN) successfully delivered 13,201 vehicles, its highest delivery record so far.

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Disclosure: None. This article is originally published at Insider Monkey.