Street

Rivian sold Wall Street on an electric SUV. Then reality hit.

Rivian sold Wall Street on an electric SUV. Then reality hit.

Placeholder while article actions load After buying stock in Rivian — the electric vehicle maker that promised a hotly anticipated SUV or truck version of a Tesla — at $72 a share, San Francisco tech program manager Carter Gibson wasn’t thrilled when the price dropped to an all-time low of $19.25 this past week. A …

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Special Report: How Wall Street banks made a killing on SPAC craze

Special Report: How Wall Street banks made a killing on SPAC craze

NEW YORK, May 11 (Reuters) – Investment banks have raked in billions of dollars by feeding the frenzy for blank-check companies, and they have done so largely without risking any of their own money on hundreds of deals that have left many investors with punishing losses. A look at one of these deals shows how. …

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