Nevertheless, Rivian is a very risky stock. If you look at the Canadian "EV" stock Magna International ( TSX:MG )( NYSE:MGA ), it's much, much cheaper than Rivian. Magna, which recently launched a Joint Venture to build EV parts, trades at just 14 times earnings, 2.2 times book value, and an extremely low 0.7 times sales. Rivian, if pre-orders are any indication, trades at 2,800 times sales. So RIVN stock is looking pretty bubbly. At least compared to a more traditional auto company like Magna.