Billionaire George Soros’s investment fund has doubled down on its bet on Rivian Automotive. Rivian shares have lost about 74% this year, compared with losses of around 16% for the S&P 500 index. As disclosed in February, the fund had bought nearly 20 million shares of Rivian.

Shares of Rivian fell 0.2% in the extended session Friday, after ending the regular trading day up more than 9%. Rivian earlier this week posted a wider-than-expected first-quarter loss and revenue. Investors cheered, however, that the EV maker kept its production guidance at 25,000 EVs this year.
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