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Soros fund sells remaining stake in Rivian, buys 1.5M shares of Novo Nordisk in Q3

Investing.com -- George Soros’s investment firm dissolved its stake in electric vehicle maker Rivian Automotive in the third quarter, while taking up a position in health care firm Novo Nordisk, according to a regulatory filing on Tuesday.  

As of Sept. 30, Soros Fund Management sold its remaining 4.2 million shares in Rivian, while scooping up 1.5M shares of drugmaker Nordisk at a value of $138.8M, the filing showed. 

The EV maker's shares have fallen about 11% since Sept. 30, despite the EV maker releasing better-than-expected Q3 results and lifting its guidance. 

Rivian Automotive Inc (NASDAQ:RIVN) was flat in afterhours trading, while Novo Nordisk A/S (NYSE:NVO) was marginally higher.

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.