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Thursday, Jun 30, 2022
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Midday Stock Roundup

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The S&P; 500 climbed 0.3% to 4,703.38 in midday trading.   The Dow Jones Industrial Average was flat at 35,881.05.   

The Nasdaq increased 0.5% to 15,994.10.   

The yield on a 10-year Treasury bond dropped 1.3% to 1.584%.Oil was up 0.1% at $78.46 a barrel.The price of gold decreased 0.3% to $1,864 an ounce.  

  

ELECTRIC VEHICLES

  

Irvine electric vehicle maker Rivian Automotive Inc. (Nasdaq: RIVN) dropped 13.2% to $126.71 per share and a market cap of $112.1 billion. Finance publication Barron’s today said investors can “expect [Rivian] shares to stay volatile,” because no Wall Street analysts are covering the stock yet.

  

MANUFACTURING  

Shares of the Cypress-based maker of electric vehicle batteries Romeo Power Inc. (NYSE: RMO) were down 12.9% to $4.50 apiece for a $604.1 million market cap. While Romeo’s third-quarter results surpassed analysts’ expectations this week, its stock has slumped about 57% on a year-to-date basis.

Audrey Kemp
Audrey Kemp
Audrey Kemp is a staff reporter and occasional photojournalist for the Orange County Business Journal. Her beats include — but are not limited to — healthcare, startups, and education. While pursuing her bachelors in literary journalism at UC Irvine, she interned for New York-based magazine Narratively Inc., wrote for Costa Mesa-based lifestyle magazine Locale, and covered the underground music scene for two SoCal-based music publications. She is an unwavering defendant of the emdash and the Oxford comma.

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