Rivian has about 13 billion of cash on their balance sheet as of the end of September and its valuation hovers around $15 billion so it's basically trading slightly above the cash that it has on hand. Cars at the end of the day are consumer discretionary purchases EVs are way more expensive especially a car like Rivian. Those are the purchases that are going to be taken down first by consumers.
Bloomberg News Managing Diversity Reporter Jeff Green explains how companies with little actual diversity improvement are doing what researchers call "diversity washing" to get included in more ESG-related funds and ETFs. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Consumer Reporter Deena Shanker provide the details of Deena's Businessweek Magazine cover story Fake Meat’s Hyped Burgers Became Just Another Food Fad. Bloomberg News Equity Markets Reporter Esha Dey talks about how Tesla's rout is overshadowing plunges by smaller EV makers Rivian and Lucid. And we Drive to the Close with Hank Smith, CIO of Haverford Trust.
Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.
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