Rivian Automotive (NASDAQ: RIVN) was one of the hottest IPOs of 2021. The electric vehicle (EV) maker went public at $78, and its shares more than doubled to a record high of $172.01 less than a week later. But today, Rivian's stock trades at about $19.

Rivian's stock plummeted as it reined in its production targets, recalled some of its vehicles, and racked up steep losses. Ford Motor Company also liquidated most of its stake in Rivian as rising interest rates drove investors away from speculative EV stocks.

Rivian now trades at just 3 times this year's sales. Could that low valuation set a floor under its stock and indicate the start of a long-term recovery? Let's review the four reasons to buy Rivian -- as well as one reason to sell it -- to decide.

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Source Fool.com