By now, Rivian (NASDAQ: RIVN) investors understand the bargain they're making by betting on the upstart EV company.

Few companies have been as hyped and well-capitalized before even making a product. Rivian has gone as deep into the red in an attempt to build out a viable business, and the automaker's promise to stand out from the pack with category-defining EVs looks increasingly challenging in a crowded industry where it's already lost more than $14 billion over its history.

In its first-quarter earnings report out Tuesday night, the company had enough good news to push the stock up after hours, gaining 6% as of 5:15 p.m. ET.

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Source Fool.com