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Prices for new electric vehicles from electric truck maker Rivian Automotive are rising to help the start-up offset higher costs. The direction of all car prices has been up in recent months, so a hike from another auto maker doesn’t seem like a surprise. Investors are reacting with nervousness anyway.
Rivian shares (ticker: RIVN) were falling more than 10%, at $55.54, in early trading Wednesday. The S&P 500 and Dow Jones Industrial Average were up 0.5% and 0.7%, respectively.