Rivian Block Trade Details
On Thursday at 2:46 p.m. New York time, a block of 6.49 million Rivian Automotive Inc. Class A shares was executed on the NASDAQ at $18.77 per share, resulting in a transaction value of $121.9 million. The block represented approximately 0.7 % of the company’s float and was priced at a 4.4 % premium to the opening price of the session. Rivian’s share price increased 8.4 % during the trading day, closing higher after the block trade.
The block accounted for 21 % of the 20‑day average volume at that time of day. By the moment the trade was reported, total market activity had reached 65.6 million shares, compared with the 20‑day average of 20.6 million shares for the same time slot. Bloomberg’s volume model projected that total volume would end the day at 77.9 million shares.
Earlier on the same Thursday, implied volatility in Rivian’s stock rose and trading activity increased, marking the second such signal of rising implied volatility observed over the preceding two weeks.
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