Rivian Automotive's (NASDAQ: RIVN) stock closed at a record high of $172.01 on Nov. 16, 2021. That equaled a 120% jump from its IPO price of $78 in just a week and boosted the electric vehicle (EV) maker's market capitalization to $153 billion.

But today, Rivian's stock trades at about $11, with a market capitalization of $11 billion. Like many other EV manufacturers, it struggled with supply chain constraints, soaring costs, and persistent losses. The EV market also cooled off and rising interest rates compressed its valuation. But could this struggling EV maker become a $100 billion company again by 2035?

Image source: Rivian.

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Source Fool.com