Since its initial public offering (IPO), Rivian (NASDAQ: RIVN) has become one of the most prominent names in the electric vehicle industry (EV). With its sleek lineup of electric pickups and SUVs, many investors likely hoped that Rivian would follow a similar trajectory to the champion of EVs, Tesla (NASDAQ: TSLA).

Although both stocks are currently struggling amid a waning EV market in the U.S., Rivian's stock has done nothing but fall since its IPO, while Tesla remains up more than 800% in the last five years. Down more than 90% and currently sitting just off its all-time low of around $8, Rivian has plenty to do before it becomes the next Tesla. Here are three things that might give the stock a turn around.

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Source Fool.com