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Polestar itself is a joint venture between Volvo (OTCMKTS:VLVLY) and Geely (OTCMKTS:GELYY). Copyright 2023 MarketWatch, Inc. All rights reserved. GGPI - , Reddit Mentions and Sentiments | Memeberg Terminal Since the Swedish electric vehicle (EV) manufacturer announced its merger. GGPI: Gores Guggenheim, Inc. Class A: $0: 10/25/2021: On 9/27/2021 the company announced a pending merger with Polestar Automotive, a global pure play, premium electric vehicle ("EV") company based in Sweden. But its a very different market now, amidst a more tepid outlook for growth stocks. To the extent anyof the information contained herein may bedeemed to be investment advice, such information is impersonal and nottailored to the investment needs of any specific person. Gores Guggenheim Stock News and Forecast: GGPI stock sets - FXStreet Mergers and Acquisitions Lightspeed Commerce Oper Chief Brandon Nussey Steps Down Shopping at Kroger can be up to four times cheaper than eating out, CEO says ACI 0.00% Broadcom stock moves. Share of GGPI closed up 12% today on news that the company has a deal . At the time of this writing, the stock is down 2.83% on the day, closing in on $11. On 11/4/2021 the company announced a proposed merger with TradeStation Group, Inc, who provides award-winning trading and . After a bustling 2021, the entire SPAC market has slowed markedly amid the global market. Polestar has been developing electric vehicles since 2017, the latest of which is a performance roadster. Instead, get to know the company a little better. Still, I wouldnt view this as a reason to dismiss it as an investment opportunity. Data is a real-time snapshot *Data is delayed at least 15 minutes. Inc. ("GGPI" or the "Company") (GGPI) a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. Thats well above where it currently trades under the $11.50 level. Li-Cycle (LICY) CEO Ajay Kochhar joins Know Who Drives Return to discuss lithium ion battery recycle in the latest podcast episode. Rubicon Technologies (RBT) CEO Jevan Anderson resigned, Marblegate is merging with itself, and the rest of the days digest. This is a collection of 34 auto manufacturers, including Geely at a 3.22% weighting. Press J to jump to the feed. Hedge funds sells stakes in Trump SPAC firm DWAC after merger news - CNBC The technology is used widely in the vacation rental industry. Navigating stock market volatility since it all began in 2000. It was established to help Volvo win the Swedish Touring Car Championship. It was established to help Volvo win the Swedish Touring Car Championship. The vehicles will be produced at its new factory in Casa Grande, Arizona. The Polestar deal will be supported. For 2022 and 2023, Polestar has guided to $3.2 B and $6.7B in sales, respectively. Polestar joins other EV makers in the public market, including Tesla (TSLA.O) and Lucid Motors (LCID.O), which went public in a $24 billion SPAC deal in February. Create an account to follow your favorite communities and start taking part in conversations. On the date of publication, neither LouisNavellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article. , including Geely at a 3.22% weighting. Both stocks are thinly traded over the counter. Its anyones guess when exactly EV stocks will take off again. Privacy Notice | Omg guys I saw GGPI merger in my smartphone notifications and my heart was pounding . Still think GGPI is undervalued. GGPI Stock Heats Up as Polestar SPAC Merger Closes - Nasdaq This report contains opinions and is provided for informationalpurposes only it does not constitute investment, legal or tax advice. Intraday Data provided by FACTSET and subject to terms of use. New pill cuts cholesterol, heart attacks, Seniors:Heres an easy wayto cut your risk of a heart attack or stroke by nearly 80%. I entered GGPI and will increase my position tomorrow tho. Since the Swedish electric vehicle (EV) manufacturer announced its merger with the special purpose acquisition company (SPAC) on Sept. 27, GGPI stock has gained about 14% or so. . The fact that the company is moving close to 30,000 units this. Polestar / Gores Guggenheim Inc.(GGPI) made a splash this morning, announcing a partnership with Hertz (HTZ) that includes purchasing up to 65,000 electric vehicles (EVs) over five years. Presumably, the deal, which will result in the company taking on the Polestar name, and GGPI stock becoming PSNY stock, will close not too long after that. The company's listing plan comes as automakers shift their focus to environmentally friendly vehicles amid rising pressure from lawmakers and investors concerned about climate change. You might even get a better price in the process.. Visit a quote page and your recently viewed tickers will be displayed here. Gores Guggenheim completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds . None of the information contained in this reportconstitutes, oris intended to constitute a recommendation by Boardroom Alphaofany particular security or trading strategy or a determination by BAthat any security or trading strategy is suitable for any specificperson. What's next for bonds in 2023 after the worst year in history, It broke me: Everyone says you need power of attorney, but nobody tells you how hard it is to use. A recovery may not happen until the market has absorbed the changes in economic and market conditions. Colombier was founded by Omeed Malik, founder and CEO of Farvahar Partners. Written by The focus was entirely on internal combustion-powered vehicles. Ingenlath wants customers that will be loyal to the Polestar brand. GGPI/ Polestar revs up on HTZ Deal. DWAC Slammed by Elon's TWTR Stake. With all that said, your question is between taking the risk of GGPI tanking after merger vs maybe missing out a huge chunk of gains. Sure, its excellent that Polestar plans to be sportier, more focused on the driving experience, than it does on being a luxury ride, but these particular words didnt move me. However, thats an entirely different subject than whether you should buy GGPI at todays prices. Gores has done as good a job as anyone demonstrating that blank-check companies can deliver the goods. The funding will be used to. Polestar Is The 9th SPAC Merger For The Gores Group: Here's How The Polestar is unique in that while its not the flashiest vehicle, the companys main selling proposition is to make reliable cars without gimmicks. URGENT: The M&A Firm is Investigating the Merger of Gores Guggenheim Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. Keep an Eye on Gores Guggenheim Stock, as it Gears Up for its EV Merger Hertz pushing to be the largest EV rental fleet, adding zero emission models. This deal received tremendous fanfare as the single-largest ever purchase for electric cars for 100,000 vehicles as well as a partnership with Uber (UBER) to provide 50,000 of those vehicles to its delivery drivers. Not bad, given that, if it grows as expected, itll generate $17.6 billion in annual sales by 2025. GGPI Stock Will Pop Post Merger, But There's Still Time to Buy 7 Tech Stocks Worth Snatching Up After Their Tumble. Labor representatives at a Nissan Motor Co Ltd plant in the central Mexican state of Morelos have reached an agreement with the Japanese carmaker to hike pay 9% as of April, the union said. Sam Zaid, CEO of Getaround, joins David Drapkin on the podcast to discus what makes carsharing company Getaround so special and their journey to go public. InvestorPlace is one of Americas largest, longest-standing independent financial research firms. Create your Watchlist to save your favorite quotes on Nasdaq.com. He particularly enjoys creating model portfolios that stand the test of time. Copyright Approval of the SPAC deal was widely expected. However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. Strong underwriting, an Asia expansion, and a history of consistent dividend raises make the shares attractive. The premium EV maker's offering includes two models a hybrid performance car known as Polestar 1 and a fully electric Polestar 2 which are currently on roads across Europe, North America and Asia. It predicts it will rake in $1.6 billion in revenue this year and double that number next year. Once the deal is completed, Polestar will trade under the ticker symbol PSNY on the Nasdaq. You should notrely solely upon the research herein forpurposes of transacting securities or other investments, and you areencouraged to conduct your own research and due diligence, and to seekthe advice of a qualifiedsecurities professional beforeyou make anyinvestment. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Polestar Provides Next Glimpse of Polestar 3 and Reaffirms Growth Plans DWAC (Digital World Acquisition) Accumulated other comprehensive income (loss) as of today (March 02, 2023) is $0.00 Mil. DWACW (Digital World Acquisition) Owner Earnings per Share (TTM) as of today (March 02, 2023) is . [I]f a stock is destined to be a long-term winner (five to 10 years out), there is no rush to run out and buy it. Theres even room for more lines. Gores Guggenheim went public with its initial public offering (IPO) in March. Even as the Polestar deal, which shareholders will vote to approve later this month, is on the verge of closing. Pending SPAC Mergers - Stock Market MBA Boardroom Alpha does not accept any liability for any direct,indirector consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed. Polestar's listing plan comes as automakers shift their focus to environment-friendly vehicles, amid rising pressure from lawmakers and investors concerned about climate change. Polestar have confirmed the previously rumoured SPAC merger with GGPI bringing the EV manufacturer to the NASDAQ with a valuation of $20 billion. with the special purpose acquisition company (SPAC) on Sept. 27, GGPI stock has gained about 14% or so. Recently, I also suggested that Matterport (NASDAQ:MTTR) was an excellent buy under $20. Anywhere in between makes it harder to gain customer loyalty. Source: Jeppe Gustafsson / Shutterstock.com, CEO Thomas Ingenlath recently discussed the companys plans with, CEO had a lot to say on the subject. We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. Therefore, it might make sense to buy now before the merger, rather than afterwards. GGPI Stock Is Worth 20% More Based on Polestar's Excellent Outlook Changing market conditions (namely, rising interest rates) have put pressure on their valuations. Its opening more of them anyway. Ingenlaths comments in Automotive News laid out Polestars three-pronged production plan for China, South Carolina and Europe. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. files S-4 for merger with Blade Therapeutics (BBTX). Polestars listing gives investors access to an interesting opportunity, however. At writing, its at $9.97 per share, just a penny above its debut price. Will GGPI Stock Rise More After Polestar Merger Date in 2022? Enthusiasm about the. The opinions and information contained herein have been obtained or derived from sources believed to be reliable, butBoardroom Alphacannot guarantee its accuracy and completeness, and thatofthe opinions based thereon. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. However, over a longer timeframe, it could zoom to price levels well above $20 per share. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Para obtener ms informacin sobre cmo utilizamos tus datos personales, consulta nuestra Poltica de privacidad y Poltica de cookies. It is the biggest blank-check merger in the EV sector since Lucid Motors struck a $24-billion deal with Michael Klein's Churchill Capital IV Corp. in February. Currently, this stock earns a B rating in my Portfolio Grader. The Gravity performance luxury SUV is expected to come to market in North America in 2023. The aim of the Polestar range is to be sportier and to have a stronger focus on the driver. Critics of the practice include Warren Buffett. Im 66, we have more than $2 million, I just want to golf can I retire? We continue to view GGPI shares as undervalued heading into the merger. Polestar, founded in 2017 by Volvo Car Group (VOLVb.ST) and China's Zhejiang Geely Holding (GEELY.UL), also counts Hollywood actor Leonardo DiCaprio among its investors. Intraday data delayed at least 15 minutes or per exchange requirements. At least, based on its success so far, and on future projections. Inc. ("GGPI" or the "Company") (GGPI)a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Get this delivered to your inbox, and more info about our products and services. No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Article printed from InvestorPlace Media, https://investorplace.com/2022/03/ggpi-stock/. Most important, the company is well underway with production and revenue generation ($1.6B in 2021 sales). As we move into the merger vote, we think GGPI should be trading closer to $20. . Do this now. What happens to my Social Security benefit if my husband dies? "We don't need the capital to build the factory. This morning, shares of Gores Guggenheim (NASDAQ:GGPI) stock started the day up 5% on news that shareholders have approved its merger with Swedish electric vehicle maker Polestar. From the day the Polestar 1 was launched, I have been a fan of the brands designs. It could continue to deliver similar performance in the short-term. Subscriber Agreement & Terms of Use | Defends Financial Benefits of IAA Deal.