Ford is selling 8m shares of Rivian
Monday, 9 May 2022
Ford Motor is selling 8 million of its Rivian Automotive shares, with the insider lockup for the stock of the once high-flying electric vehicle maker is set to expire on Sunday, reports CNBC.
The automaker currently owns 102 million shares of Rivian. Ford will be selling the shares through Goldman Sachs, sources said.
The lockup defines a period of time after a company has gone public when early investors and company insiders cannot sell their shares.