Everyone wants to bet on a beaten-down stock trading at a discount to its long-term potential. After losing around 90% of its value since hitting public markets in late 2021, Rivian Automotive (NASDAQ: RIVN) should surely catch the attention of value-hungry investors.

But with massive cash burn and an uncertain macroeconomic future, will this embattled automaker have a brighter future? Let's discuss what the next three years could have in store.

When Rivian stock became publicly available through a reverse merger with a special purpose acquisition company (SPAC) in November 2021, electric vehicle (EV) stocks were on top of the world. At the time, industry leaders like Tesla grew significantly faster than traditional automakers, leading many investors to assign high valuations to Rivian and other pure-play EV companies that aimed to imitate Tesla's business model.

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Source Fool.com