Tesla Stock Reels After Amazon-Backed Rival Rivian Seduces Ford

By CCN: Tesla stock endured another major blow on Wednesday after US auto giant Ford piled $500 million into electric truck manufacturer Rivian, which had already secured a major investment from Amazon. TSLA shares fell 1.94 percent on the day to $258.77 after sliding below technical support at $260. Ford stock (F), meanwhile, rose 0.21 percent to outperform the overall stock market. Ford Bets on Rivian as Tesla Rival Plots to Pummel Model Y Why is this investment from Ford concerning for Tesla investors? Elon Musk plans to roll out an electric pick-up truck, and Rivian hopes to steal his

The post Tesla Stock Reels After Amazon-Backed Rival Rivian Seduces Ford appeared first on CCN