Could Rivian Become the Next Tesla?

Once worth more than $140 billion, Rivian Automotive (NASDAQ: RIVN) has had a steep fall from grace. Now more than 80% off its all-time high, anyone who bought the stock at the top is deeply in the red. While this might have been an expensive learning experience for some investors, the stock could be nearing an attractive entry point.

At the beginning of its time as a public company, investors envisioned Rivian as the next Tesla (NASDAQ: TSLA) but quickly were dealt a loss. As harsh as the fall was, Tesla has experienced multiple 50% plus drops as well. Is this vision dead? Or is Rivian in a prime position to perform now that the stock isn't as overhyped?

Rivian R1T and R1S. Image source: Rivian.

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Source Fool.com