Shares of electric vehicle maker Lucid (NASDAQ: LCID) have had a mostly downhill ride since the company's market debut, falling over 90% from their 2021 price peak.

However, the company has made substantial progress since 2021. Its first model, the Air luxury sedan, has received wide acclaim. A big SUV will join the lineup by the end of this year.

Lucid's second-quarter results -- reported Aug. 5 -- were better than expected, but it's still a long way from profitability. But it has a plan to get there, and a big investor with deep pockets.

Continue reading

Source Fool.com