Have shares in this electric automaker finally bottomed out?

Make no mistake, Rivian Automotive ( RIVN -0.27% ) has been a punishing investment for its early investors, with shares down a whopping 90% since their public debut in late 2021. That said, the embattled company has now become a relatively affordable way to bet on the future of the U.S. EV industry as it pioneers its truck and SUV-focused business model.

What will the next half decade have in store? Let's explore the pros and cons of Rivian to decide if the stock has finally become a good buy.

The near term is challenging

Rivian's second-quarter earnings highlight its ongoing challenges with building a sustainable automotive business. Total revenue rose by a modest 12.5% year over year to $1.3 billion, but t

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