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A 13% decline in Rivian shares during extended hours followed the company's sale of 75 million shares to raise capital, more than erasing the 8.1% gain the stock posted during Monday's regular session.
The move arrived on top of a 19.2% weekly advance in the prior week, placing the dilution at the peak of the stock's recent momentum.
The math on Monday Rivian's 13% extended-hours drop is 1.6 times the 8.1% regular-session gain, leaving the stock below its prior close on a combined basis.
| Period | Move | Classification | |---|---|---| | Prior week | +19.2% | Reported | | Monday session | +8.1% | Reported | | Extended hours | -13.0% | Reported | The offering involved 75 million shares.
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