Shares of Rivian Automotive Inc. briefly fell below their IPO price on Thursday in a broader selloff among electric vehicle (EV) makers as the race for market share intensifies with legacy companies ramping up EV production.
Rivian shares fell as much as 16.5 percent to $75.13, slipping below the debut price of $78 for the first time. They pared losses and were trading down 5 percent at $85.66 in mid-day trading.
