Is Rivian Stock Cheap Enough Yet?

Rivian Automotive (RIVN) stock lost 30.5% over the three months to October 19, 2026, while the S&P 500 gained 2.7%. The shares closed that day at their lowest level of the past year, 45% below their high of last December. A buyer at this price is betting that Rivian's losses keep shrinking as its cheaper R2 SUV ramps up. So is it still too early to buy Rivian.