One That Isn't Working At All In My Favor

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So, I will often tell you about the winners when it comes to the stock market. Texas Roadhouse (TXRH) and Walmart (WMT) being recent examples. But I have a real tanker in my portfolio, and it is not the only one. But this one is pretty much a doozie of a tanker if you ask me. I invested in Rivian, and electric car company backed by Amazon, which Ford also owns a reduced percentage of. They are the makers of the new EV Amazon delivery vehicles, but also produce the R1T trick and R1S SUV, and are soon to introduce their R2 model in a month or so, which is a smaller version of the R1S and is supposed to come with a smaller price tag. I bought in at the IPO initially, and since then have added shares. I won't say how much I invested. I will just say it is a significant amount. Nonetheless, the stock tanked big time today on a horrible earnings report and future guidance which wasn't much more promising. My investment to date is down a whopping 71%. But I am still holding. Why? I believe in the company. I think they still have lots of legs despite the short term pains. The stock closed today at $11.45 per share. I currently own 275 shares at a cost basis of $39.89 per share. I could buy more at the current price and significantly reduce my cost basis some more. But right now, I am holding. It remains, for me, a longer-term investment and right now I simply don't feel all that comfortable taking on more risk even if I firmly believe the price per share in the next 3-5 years will be much higher than my current cost basis.