1 No-Brainer Electric Vehicle (EV) Stock to Buy With $500 Right Now

Core Viewpoint - Rivian's stock has experienced significant volatility, with a recent surge of over 40% despite being more than 40% below its price at the beginning of the year, indicating a potential turnaround in market sentiment for the company [2][3]. Group 1: Stock Performance and Valuation - Rivian's shares fell from above $20 at the start of 2024 to below $10 last month, reflecting a broader trend of declining valuations in the electric vehicle (EV) sector [1][3]. - Since its IPO in 2021, Rivian's stock has lost over 80% of its value, with its market cap shrinking from approximately $100 billion to $14 billion, while Tesla's market cap stands at nearly $1.3 trillion [3][4]. - Rivian currently trades at 3.1 times sales, significantly lower than Tesla's 14 times and Lucid Group's nearly 10 times sales, suggesting that Rivian may be undervalued [5]. Group 2: Revenue Growth and Future Prospects - Despite the stock's decline, Rivian's sales have grown from nearly nothing to over $4 billion annually, peaking at more than $5 billion, indicating strong demand for its vehicles [4]. - The company plans to launch three new mass-market models in 2026, priced below $50,000, which could expand its customer base significantly [6]. - If Rivian can achieve positive gross margins in its upcoming quarterly report, it could signal a major turnaround and positively impact its stock price [9][10]. Group 3: Investment Strategy - Investors are advised to consider a long-term approach rather than focusing solely on quarterly results, especially given Rivian's current historically cheap valuation [11].