Lucid is an electric vehicle company that went public in 2021 through a merger with a special purpose acquisition company.The electric vehicle (EV) company Lucid Group (LCID +1.55%) went public through a special purpose acquisition company (SPAC) in 2021, a time when valuations were loose, capital was abundant, and high-profile SPAC merger announcements were occurring daily.Unfortunately, many companies took advantage of the tremendous market conditions at the time and went public at big valuations before t ...