Is SPDR S&P Aerospace & Defense ETF (XAR) a Strong ETF Right Now?

Nestled in Rivian’s S-1 IPO filings was a note that the EV company’s “cornerstone investors” had “indicated an interest” in buying up to $5 billion worth of its stock at its IPO price. One of those parties was Amazon, and the American e-commerce giant appears to have pulled the trigger Friday afternoon on its buy.Per a recent Form 4 filing, Amazon bought roughly $200 million worth of Rivian stock