RTTNews | Jan 19, 2022 10:37AM EST

10:36 Wednesday, January 19, 2022 (RTTNews.com) - American legacy carmaker, Ford Motor Company (F) saw its stock trading 4% lower on Wednesday after announcing that it is going to reclassify the first-quarter earnings from its investment in Rivian as a one-time gain.

The company announced on Tuesday that it is expecting an $8.2 billion gain on its investment in Rivian Automotive (RIVN) which enjoyed one of the biggest debuts on the market in 2021.

The company has also said that it is going to reclassify the $900 million it earned from the investment as a special item, which will lead to changes in its full-year adjusted earnings guidance which was between $10.5 billion and $11.5 billion including the gain.

The stock is currently trading at $23.36, down $1.02 or 4.17% since the previous close at $24.38. The stock opened at $24.65 in the morning. In the 52-week period, the stock has ranged between $10.19 and $25.87 per share.

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