Up-and-coming electric vehicle company Rivian Automotive (NASDAQ: RIVN) went public in 2021 and has steadily fallen 90% from its peak due to concerns about its long-term financial viability. However, there's been a bit of good news lately; recently announced a joint venture with a $5 billion investment in Rivian.

Days later, Rivian's management announced it was reaffirming its full-year production guidance and declared it was on pace to generate positive gross profit in Q4. At about $17 billion in market value today, the company remains a fraction of its former size.

Are these positive developments enough to turn sentiment in Rivian's favor? Is the stock a buy, sell, or hold?

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Source Fool.com