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Wednesday, Feb 1, 2023
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Midday Stock Roundup 05/24/22

The S&P 500 fell 1.5% to 3,912.67 during midday trading.

The Dow 30 dropped 0.7% to 31,645.82.

The Nasdaq slipped 2.3% to 11,271.29.

The yield on a 10-year Treasury bond sank 4.1% to 2.74%.

The price of gold rose 1.1% to $1,868.10.

The price for a barrel of oil decreased 0.3% to $109.98.

AUTOMOTIVE 

Shares in electric vehicle maker Rivian Automotive Inc. (Nasdaq: RIVN) in Irvine fell 6.4% to $26.19 apiece for a market cap of $23.1 billion, dropping for a third straight day.  Investor website TheMotleyFool.com said the slide was likely “because investors were processing news about growing frustration about wait times for customers who’ve pre-ordered Rivian vehicles.”

MEDIA 

Irvine-based TV maker and media company Vizio Holding Corp. (NYSE: VZIO) dropped 9.4% to $7.78 per share for a market cap of $1.5 billion. Bloomberg News reported that Snap Inc.’s profit warning “spurred widespread selling across the advertising and ad-tech space” with Vizio among the “notable decliners.”

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