I recommend taking an in-depth look at this company, its lineup of mass affluent and luxury EVs, and its game plan to take on Tesla (NASDAQ:TSLA), Lucid (NASDAQ:LCID), and the incumbent automakers looking to grab a piece of the electric vehicle market. 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. The latest deal will provide a key test of investor appetite for SPAC deals after other such transactions in the electric vehicle sector soured over the past few months. The Car Design Award was established in 1984 by Fulvio Cinti, founder and editor-in-chief of Auto&Design for more than thirty years. Provided by Benzinga Since. Our firm's recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Cuando utilizas nuestros sitios y aplicaciones, usamos. The decision is yours to make. Don't take it as financial . Even if its an SUV such as the Polestar 3, it will have a sleek silhouette, meaning there will be less emphasis on cargo space and more emphasis on propulsion. Copy and paste multiple symbols separated by spaces. The partnership with Polestar builds on Hertzs announcement last October to offer its customers the largest EV rental fleet in North America and one of the largest in the world. This relationship gives Polestar access to manufacturing in Chinas as well as facilities in Europe and the U.S. Geely has a 2022 target of 1.65 million vehicles. 2023 CNBC LLC. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. After many months of wait, the tie-up between Gores Guggenheim and Polestar is nearing completion. However, I also said that investors need not rush to buy the SPAC before the merger happens. The investigation focuses on whether GGPI and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued. Once the reverse merger is finalized, shares of Polestar will begin trading on the Nasdaq tomorrow under the PSNY ticker symbol. Ingenlaths comments in Automotive News laid out Polestars three-pronged production plan for China, South Carolina and Europe. For Hertz, the partnership builds on the companys ongoing commitment to lead in electrification and shared mobility. However, if you own Gores Guggenheim (NASDAQ:GGPI) stock, one sentence by Ingenlath stands out in a good way. Inc. ("GGPI" or the "Company") (GGPI) a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. Subscriber Agreement & Terms of Use | Then I realized it was just a survey. GGPI shares have been trading in a steady ~$11 range prior to days announcement (shares are up 8% intraday). As a result, I think its chances of survival are much higher than brands such as Lucid (NASDAQ:LCID) and Rivian (NASDAQ:RIVN). mostrar anuncios y contenido personalizados basados en perfiles de inters; medir la efectividad de los anuncios y el contenido personalizados, y. desarrollar y mejorar nuestros productos y servicios. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. Boardroom Alpha does not accept any liability for any direct,indirector consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed. Anyways we could very well see 20-30$. In what stands to be a pivotal year for the future of the market, we recap January. 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. However, it was what he said Polestar is and, The aim of the Polestar range is to be sportier and to have a stronger focus on the driver. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. These symbols will be available throughout the site during your session. Most important, the company is well underway with production and revenue generation ($1.6B in 2021 sales). But its a very different market now, amidst a more tepid outlook for growth stocks. 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. It will also have a more daring design,, The CEO came out and said Polestar wasnt going to be, As I stated in January, I think GGPI stock soon to be. Prior results do not guarantee a similar outcome with respect to any future matter. Instead, get to know the company a little better. The deal announcement stated it would close before June 30, 2022. You might even get a better price in the process.. LOS ANGELES & GOTHENBURG, Sweden, June 21, 2022 -- ( BUSINESS WIRE )--Gores Guggenheim, Inc. ("Gores Guggenheim" or the "Company") (NASDAQ: GGPI, GGPIU and GGPIW), a special purpose acquisition. The deal comes at a time when large SPAC mergers have become rare, as the business of blank-check dealmaking deteriorated rapidly over the summer after investors were spooked by the poor financial performance of many SPACs and a regulatory crackdown led by the U.S. Securities and Exchange Commission over their disclosures. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. $GGPI $PSNY @Polestar introduces Tech and Design updates on Polestar 2 The battery is improved increased cell chemistry that provides a higher capacity -This leads to increased range,faster charging, and higher motor output in addition to the design element changes listed in the article Copyright 2023 InvestorPlace Media, LLC. Real-time alerts, yields, red flags, filings, investors, and much more. GGPI Stock Price - Gores Guggenheim, Inc. is a blank check company. This is because either your product or service appeals to the top 20% of household incomes or the bottom 20%. The deal with Gores Guggenheim (GGPI.O) will provide Polestar cash proceeds of over $1 billion, including $800 million from the special purpose acquisition company (SPAC), and a PIPE, or private investment in public equity, of $250 million from institutional investors. Polestar said at the Beijing Motor Show last year that it has another model in development called the Precept, which is a larger sedan. Prior to merger deal announcements, SPAC stocks tend to stay close to $10 a share. Assuming a post-merger tally of approximately 2.15 billion shares, a stock price of $20 on GGPI equates to a $43 billion market cap. Assuming it hits its growth targets, delivering a six-figure amount of vehicles annually, and generating tens of billions in annual sales, within three years. . Salesforce Inc. (CRM) surges after hours following earnings amidst potential activist activity and todays SPAC, IPO, and Exec News. However, if you own, for China, South Carolina and Europe. Press J to jump to the feed. In 2013, Polestar launched the Volvo S60 Polestar. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Si quieres personalizar tus opciones, haz clic en Gestionar configuracin de privacidad. This particular EV play is appealing for two reasons. Hertz pushing to be the largest EV rental fleet, adding zero emission models. Colombier was founded by Omeed Malik, founder and CEO of Farvahar Partners. 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. API access to institutional grade SPAC database. Li-Cycle (LICY) CEO Ajay Kochhar joins Know Who Drives Return to discuss lithium ion battery recycle in the latest podcast episode. Changing market conditions (namely, rising interest rates) have put pressure on their valuations. The funding will be used to. Shares of GGPI are down a little over 2% as of this writing. We were listed in theTop 50in the 2018-2020 ISS Securities Class Action Services Report. The reverse merger between GGPI and Polestar is one of the few large SPAC deals to happen this year. Second, it currently trades at an attractive valuation relative to its prospects. Puedes cambiar tus opciones en cualquier momento haciendo clic en el enlace Panel de control de privacidad de nuestros sitios y aplicaciones. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. We can put the money raised into developing the technology and the market," Thomas Ingenlath, Polestar's chief executive, said in an interview. The merger with Polestar via SPAC deal to take it public is finally nearing completion. It was a slower month to kick off the year for SPACs. Post merger, the combined company will be named Polestar Automotive Holding UK Ltd. and will trade under the symbol "PSNY" on the Nasdaq. GGPI hasn't announced a definitive merger date with Polestar but the two companies expect to complete the business combination in the first half of 2022. 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. Type a symbol or company name. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Instead, get to know the company a little better. Our Standards: The Thomson Reuters Trust Principles. 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. At the end of November, I argued that GGPI stock was a better buy for aggressive investors than, 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. Aug. 17 2021, Published 3:11 p.m. 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. The Company has selected December 31 st as its fiscal year-end. Investors still bullish on EV stocks can purchase shares of Polestar once PSNY stock starts trading tomorrow morning. Polestar delivered about 10,000 vehicles globally last year and expects to sell about 290,000 vehicles per year by 2025. While the vast majority of these vehicles will be sold in China, the company is also making a push into other Asian markets. News, Media, rumors,and general discussion topics are welcome! The deal comes at a time when large SPAC mergers have become rare, as the business of blank-check dealmaking deteriorated rapidly over the summer after investors were spooked by the poor financial performance of many SPACs and a regulatory crackdown led by the U.S. Securities and Exchange Commission over their disclosures. The Company completed the Public Offering on March 25, 2021 (the "IPO Closing Date"). As you might be aware, post-merger, Polestars existing shareholders will own 94% of the company. DWACW (Digital World Acquisition) Owner Earnings per Share (TTM) as of today (March 02, 2023) is . The EV just looks nice. The deal also includes a PIPE, or private investment in public equity, of $250 million from top-tier institutional investors. 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. Oklahoma's governor set a special vote for March 7 after a pot referendum was pulled off the November ballot, and in Pennsylvania, a lawmaker launched new bill. However, GGPI stock drifted. As a result, I think its chances of survival are much higher than brands such as, On the date of publication, Will Ashworth. Press question mark to learn the rest of the keyboard shortcuts. From the day the Polestar 1 was launched, I have been a fan of the brands designs. For the best MarketWatch.com experience, please update to a modern browser. Polestars listing gives investors access to an interesting opportunity, however. InvestorPlace->, InvestorPlace - Stock Market News, Stock Advice & Trading Tips. The Company will not generate any operating revenues until after the completion of its Business Combination, at the earliest. 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our, Stock Prodigy Who Found NIO at $2 Says Buy THIS. Special purpose acquisition company (SPAC) Gores Guggenheim (NASDAQ:GGPI) continues to be on schedule with its planned merger with electric vehicle (EV) maker Polestar. Intraday data delayed at least 15 minutes or per exchange requirements. Its anyones guess when exactly EV stocks will take off again. 5 Penny Cryptos With the Most Potential for Growth, 3 Cream-of-the-Crop Growth Stocks to Buy for 2023, Gores Guggenheim Stock Will Pop Post Merger, But Theres Still Time to Buy.
