What comes to mind when you hear the term "value stock"? Few investors would immediately think of any electric vehicle (EV) manufacturer, not to mention an unprofitable one like Rivian Automotive (NASDAQ: RIVN).

Yet in an industry that's still growing and evolving, value seekers might choose to cut Rivian some slack. Defining "value stock" in the EV space may require an extra measure of flexibility, with the bull case for Rivian stock contingent on progress rather than perfection. Let's learn more.

Rivian stock ended 2023 on a strong note, jumping from $17 to $23 and change in December. Prior to that, though, shares were down 90% from their all-time highs.

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Source Fool.com