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ThesisIn my opinion, Rivian (NASDAQ:RIVN) is a speculative story-based long-duration asset that is priced to perfection.Valuedat a one-year forward EV/Sales of about x10, the company has arguably little room to misstep.But on 10 Octobera major misstep happened: Rivian hasannounceda recall ofnearly allof the company's past EV deliveries. The trading day following the news, RIVN shares have lost as much as 11%.I don't think Rivian's long-term prospects will be severely impacted by the EV vehicle recall. But still, the company's valuation is simply too high for investing with the risks associated to a story-led business case - especially given the current environment with depressed sentiment towards growth stock.Rivian stock is down some 80% YTD. But there is still excessive risk in the compa