{"id":81397,"date":"2022-04-29T01:01:28","date_gmt":"2022-04-29T05:01:28","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=81397"},"modified":"2022-04-29T00:26:10","modified_gmt":"2022-04-29T04:26:10","slug":"amazon-takes-7-6-billion-loss-on-rivian-stake-after-ev-companys-stock-plunge","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2022\/amazon-takes-7-6-billion-loss-on-rivian-stake-after-ev-companys-stock-plunge.html","title":{"rendered":"Amazon takes $7.6 billion loss on Rivian stake after EV company\u2019s stock plunge"},"content":{"rendered":"\n<p>(CNBC) <a rel=\"noreferrer noopener\" href=\"https:\/\/www.cnbc.com\/quotes\/AMZN\" target=\"_blank\">Amazon<\/a> invested in electric vehicle maker <a rel=\"noreferrer noopener\" href=\"https:\/\/www.cnbc.com\/quotes\/RIVN\" target=\"_blank\">Rivian<\/a> in 2019 as part of a plan to go green. During the first quarter, it saw nothing but red. In its earnings report on Thursday, Amazon took a $7.6 billion loss on its stake in Rivian. Shares of the EV manufacturer plummeted by more than 50% in the first three months of 2022, reversing course from the fourth quarter, when the company held its <a href=\"https:\/\/www.cnbc.com\/2021\/11\/10\/amazon-backed-ev-start-up-rivian-set-to-go-public-.html\">stock market debut<\/a> and saw its value skyrocket.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/2022\/04\/28\/amazon-takes-7point6-billion-loss-on-rivian-stake-from-q1-stock-plunge.html\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(CNBC) Amazon invested in electric vehicle maker Rivian in 2019 as part of a plan to go green. During the first quarter, it saw nothing but red. In its earnings report on Thursday, Amazon took a $7.6 billion loss on [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-81397","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/81397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=81397"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/81397\/revisions"}],"predecessor-version":[{"id":81398,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/81397\/revisions\/81398"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=81397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=81397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=81397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}