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Rivian and Lucid shares plunge after weak EV earnings reports, Rivian announces layoffs

Shares of electric vehicle makers Rivian and Lucid fell Thursday after the companies reported stagnant production in their fourth-quarter earnings.

Shares of electric vehicle makers Rivian and Lucid plummeted Thursday after the companies reported disappointing results and stagnant production in their fourth-quarter earnings after the bell Wednesday. Rivian's revenue of $1.32 billion for the quarter beat Wall Street estimates, but its net loss per share of $1.36 was worse than expected, according to a survey of analysts by LSEG, formerly known as Refinitiv. Shares of electric vehicle makers Rivian and Lucid fell Thursday after the companies reported stagnant production in their fourth-quarter earnings after the bell Wednesday.

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