GM, Ford Shares Dip and TSLA Rises as Trump Follows Through on Auto Tariffs
President Trump announced a 25% tariff on imported automobiles and parts, effective April 2025.
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BTC$62,686.00-1.67%
ETH$1,666.62-3.16%
USDT$0.9987-0.01%
USDC$0.9996-0.01%
XRP$1.10-1.88%
SOL$69.40-3.23%
TRX$0.329-1.01%
FIGR_HELOC$1.03-0.16%
HYPE$61.30-7.24%
DOGE$0.0789-3.56%
USDS$0.9997+0.00%
RAIN$0.0157-2.06%
LEO$9.49-0.84%
ZEC$413.84-6.89%
XLM$0.1911-3.05%
Rivian shares rose more than 15% after the company unveiled its in-house autonomy processor and outlined new AI-driven self-driving features at its first Autonomy & AI Day.
President Trump announced a 25% tariff on imported automobiles and parts, effective April 2025.
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Shares of Rivian popped 6% in Wednesday's premarket on the company's solid Q3 report and upbeat full-year guidance.
Shares of VinFast initially rose at Thursday market open on stronger-than-expected Q3 report, only to lose those gains in the next hour.
Rivian shares plunged 9% in the premarket on the company's $1.5 billion convertible bond sale announcement.
Tesla missed consensus projections for Q3 deliveries. The stock took a hit premarket but recovered over the tradings session.
Despite expectations, legacy automakers are lagging behind Tesla.
Rivian, American manufacturer of utility EVs, partnered with Tesla to adopt the North American Charging Standard.