A removal from the index would deal another blow to a stock that’s been pummeled since soon after its November 2021 initial public offering.
After briefly riding the frenzy for all things related to EVs, Rivian’s shares started unraveling. Investors soured on risky growth names, correctly anticipating the Federal Reserve would raise rates to arrest inflation, in turn slowing the economy and making sales of an expensive electric pickup truck less likely.
Representatives of Rivian and Nasdaq declined to comment on Thursday.
Rivian shares fell as much as 4.8 percent to $14.02 on Thursday in New York, but later pared most of the losses to close at $14.58.
