Is Ford Planning To Sell Its Rivian Stake? Jim Cramer Weighs In

Rivian Automotive Inc (NASDAQ: RIVN) is the latest electric vehicle company to make its public debut.

Rivian Automotive Inc (NASDAQ:RIVN) is the latest electric vehicle company to make its public debut. Following the highly anticipated IPO, investors piled into Ford Motor Co (NYSE:F), which owns a 12% stake in Rivian, and Amazon.com, Inc (NASDAQ:AMZN), which owns a 20% stake. 

On Friday morning, however, Jim Cramer suggested that Ford might be looking to sell its stake in Rivian.

“The stake that Ford has in Rivian is a Trojan horse,” Cramer said Friday on CNBC’s “Squawk On The Street.”

The story of the Trojan horse is well-known. During the Trojan War, the Greeks used a wooden horse to enter the city of Troy and win the war. Also of note, in computing, a Trojan Horse is any malware that misleads users of its true intent.

Ford, the second largest stakeholder in Rivian, wants to sell, according to Cramer. 

“How long you want to hang in Rivian? Can you just stay in Rivian and be oblivious to that?”

See Also: Rivian, Lucid, Tesla See High WallStreetBets Interest But This Stock Is At The Top Of The Chart Today

“Squawk On The Street” co-host David Faber asked Cramer if he knows for a fact Ford wants to sell and if the company has plans in place to monetize its stake. 

“We don’t know that yet, but I know they want to sell,” Cramer responded. “They are not colleagues, they are opponents.”

At the end of the segment, Cramer said: “That’s great insight. That was big. No one knows that.”

RIVN Price Action: Rivian was up 12.92% at $139.32 midday Friday.

Photo: courtesy of Rivian.

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