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Friday, Jun 24, 2022
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Midday Stock Roundup

Rivian, Sonendo rise

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The S&P 500 slid 0.2% to 3,914.73 in midday trading.

The Nasdaq climbed 0.8% to 11,504.51.

The Dow 30 was off 0.8% to 31,239.35.

The yield on a 10-year Treasury bond decreased 1.7% to 2.8370%.

Gold rose 1.4% to $1,840.60 an ounce.

Crude oil increased 0.8% to $110.45 per barrel.

 

ELECTRIC VEHICLES

Rivian Automotive Inc. (Nasdaq: RIVN) jumped 10.3% to $30.10 per share for a market cap of $26.6 billion. While shares in the Irvine-based EV maker have fallen about 70% in the past year, Deutsche Bank analyst Emmanuel Rosner maintained his Buy rating for the stock as of Tuesday. “We continue to believe the company offers attractive product and a well-thought-out business plan to become a large EV player,” Rosner said in a report.

MEDICAL DEVICES

Laguna Hills-based dental device maker Sonendo Inc. (NYSE: SONX) climbed 9% to $2.90 per share and a $76.2 million market cap. According to SEC filings, Sonendo CEO Bjarne Bergheim bought 30,000 shares of the company’s stock on Monday, for a total of $88,500. Bergheim now owns 863,450 shares in the company, for a velue over $2.5 million. 

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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