Billionaire George Soros punishes Rivian

George Soros bets on the auto industry.

The billionaire continues to invest in this sector, which is abandoning gas-powered cars in favor of electric ones, while public policies, particularly in Europe, encourage ecological vehicles.

He thus chose his winners and losers. Initially Soros bet on goodbye Rivian, the Chinese NIO (NIO) – Get a free report and, to a lesser extent, on Lucid Group (LCID) – Get a free report. But it seems to have changed its strategy, preferring to focus on car manufacturers that have the ability to mass produce. This can be gleaned from the changes it just made to its US equity portfolio in the third quarter.

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