Rivian Kicked Off The NASDAQ Top 100

It hasn’t all been plain sailing for Rivian since the EV startup first hit the stock exchange in 2021 and each share in the company commanded a hefty $129.95. Fast forward to this month and those same shares have plunged nearly 90 percent, including a 20 percent drop this year, and are currently trading at just $14.74.

 

And there’s more bad news this week. Rivian’s poor performance has resulted in it losing its spot on the prestigious Nasdaq 100. The index lists the 100 biggest non-financial firms on the New York-based Nasdaq stock exchange and includes heavy hitters like Apple and Microsoft.