Lucid (NASDAQ: LCID) went public by merging with a special purpose acquisition company (SPAC) nearly three years ago. The luxury electric vehicle maker initially gained a lot of attention because it was led by Peter Rawlinson, 's (NASDAQ: TSLA) former chief vehicle engineer who oversaw its development of the Model S, and was on track to deliver its first vehicles by the end of 2021.

Lucid's stock opened at $25.24 on its first day, more than doubled to its all-time high of $55.52 four months later, but now trades at less than $3 a share. Let's see why Lucid's stock crashed -- and if it can bounce back over the next three years.

Image source: Lucid.

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Source Fool.com