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.
