Diamonds and Dogs

6/26/24

Rivian (RIVN) jumps 22% after Volkswagen announces a $5 billion EV joint venture. Rivian gets much needed cash for operations while Volkswagen will get stock and the right to use Rivian's EV and software technology.

General Mills (GIS) is pulling back following earnings. The maker of Wheaties and Cheerios actually beat earnings, but sales were light. Management said consumers are pulling back on spending, buying more generic cereals and other items.

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