Amazon Takes Major Hit as Rivian Struggles Continue
- Amazon lost nearly $1 billion on its Rivian investment last week due to Rivian's stock selloff
- Amazon's Rivian investment has lost $2.05 billion in value year-to-date
- Rivian ended its deal with Amazon to provide electric vans
- Rivian reported wider-than-expected Q4 losses and lower 2024 production outlook
- Rivian's market cap has dropped from $77 billion at IPO to $9.9 billion currently