Shares of Rivian Automotive Inc. closed 7.3 percent lower on Monday after the electric-vehicle maker recalled nearly all its vehicles, heightening investor concerns that the company may not be able to meet its 2023 production target.
Rivian’s market capitalization dropped more than $2 billion to $31.1 billion in a single day, compared with automakers such as Ford Motor Co. and General Motors Co., which are valued at $45.67 billion and $47.08 billion, respectively.
