Both stocks are thinly traded over the counter. And Im not even a total car geek. GGPI shares starting to regain momentum ahead of merger vote. 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. If you own the shares of the EV maker already, dont worry about its poor performance recently, I wrote in January. This is because either your product or service appeals to the top 20% of household incomes or the bottom 20%. In other words, hes saying if you buy a Polestar, youll be getting something unique and special. 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. Post merger, the combined company will be named Polestar Automotive Holding UK Ltd. and will trade under the symbol "PSNY" on the Nasdaq. Will Ashworth has written about investments full-time since 2008. Gores Guggenheim and Polestar Expected to Close Business - Yahoo! See here for a complete list of exchanges and delays. About the Car Design Award. First, despite its also-ran reputation, its one of the more promising early stage names in this space. GGPI - , Reddit Mentions and Sentiments | Memeberg Terminal Although its unclear whether it zooms or sits idle in the near-term, over a longer timeframe it could really take off. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. New pill cuts cholesterol, heart attacks, Seniors:Heres an easy wayto cut your risk of a heart attack or stroke by nearly 80%. Provided by Benzinga Since. 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. Strong underwriting, an Asia expansion, and a history of consistent dividend raises make the shares attractive. Enthusiasm about the deal, which was announced last fall, has seen a big drop in recent months. SPAC Merger. For 2022 and 2023, Polestar has guided to $3.2 B and $6.7B in sales, respectively. GGPI Stock Heats Up as Polestar SPAC Merger Closes - Nasdaq Check out our February podcast with CEO Thomas Ingenlath, and detailed analysis of GGPI here. Still, I wouldnt view this as a reason to dismiss it as an investment opportunity. Is GGPI a buy now in 2021? He lives in Halifax, Nova Scotia. Polestars listing gives investors access to an interesting opportunity, however. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. He particularly enjoys creating model portfolios that stand the test of time. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://www.monteverdelaw.com/case/gores-guggenheim-inc, SHAREHOLDER ALERT: The M&A Class Action Firm Announces the Investigation of Adamis Pharmaceuticals Corp. - ADMP, SHAREHOLDER ALERT: The M&A Class Action Firm Announces the Investigation of Ranger Oil Corp. - ROCC. If you owned common stock in the Company and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. Heres what investors should know moving forward. Sign up below to get this incredible offer! It predicts it will rake in $1.6 billion in revenue this year and double that number next year. It was established to help Volvo win the Swedish Touring Car Championship. If you havent bought it, thats great news because you still have time to get in before GGPI takes off post-merger. The technical storage or access that is used exclusively for statistical purposes. But there is reason to believe that quality, well-run EV companies like PSNY will survive and thrive in the years ahead. Current equity holders of Polestar, who will roll their entire interest in the combined company, will retain about 94% ownership, it said. 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. Barring unforeseen developments, Polestar ought to deliver considerable wealth to its patient shareholders in the future.. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Theres even room for more lines. 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. Article printed from InvestorPlace Media, https://investorplace.com/2022/03/ggpi-stock/. He particularly enjoys creating model portfolios that stand the test of time. On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The funding will be used to. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Don't take it as financial . With that in mind, I continue to believe in Alec Gores real-world record of success with SPACs. You might even get a better price in the process., Around the same time as my article, fellow, Chris Tyler argued that technical analysis of the stock suggested the beginning of December. Establishing itself in the European market, it could see tremendous growth as it enters the U.S. market. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. GGPI Stock Is Worth 20% More Based on Polestar's Excellent Outlook So naturally, theCEO had a lot to say on the subject. You might even get a better price in the process.. At least two hedge funds sold their stakes in Digital World Acquisition Corp. after that SPAC firm announced plans to merge with former President Donald Trump 's planned social media platform.. What Is the Best EV Stock to Buy Now? Type a symbol or company name. For the best MarketWatch.com experience, please update to a modern browser. It was established to help Volvo win the Swedish Touring Car Championship. 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 fact that the company is moving close to 30,000 units this. Do this now. On May 25, the blank-check company formally announced the date on which shareholders will vote to approve the transaction (June 22). 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Its anyones guess when exactly EV stocks will take off again. It is free and there is no cost or obligation to you. Based on a $49K starting price, the deal is valued at ~$3.2B. The company raised $550 million in external funding in April and announced plans in June to build Polestar 3 electric sport utility vehicles at Volvo's U.S. plant in South Carolina from next year. A Division of NBCUniversal. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The deal also includes a PIPE, or private investment in public equity, of $250 million from top-tier institutional investors. The decision is yours to make. However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. InvestorPlace is one of Americas largest, longest-standing independent financial research firms. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. He has also been selected by Martindale-Hubbell as a 2017-2021 Top Rated Lawyer. He was right. Initial orders are for the Polestar 2 sedan. Im a big believer in Alec Gores, the chairman behind this SPAC. However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. 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. read more. March 1, 2023. Get this delivered to your inbox, and more info about our products and services. 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. After a bustling 2021, the entire SPAC market has slowed markedly amid theglobal marketdownturn. For Hertz, the partnership builds on the companys ongoing commitment to lead in electrification and shared mobility. The Polestar deal will be supported. The deal relates primarily to the EV makers Model 3. 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. A key advantage we have highlighted repeatedly is Polestars existing partnerships / manufacturing relationships. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. Two years later, it made a move to electric-powered performance vehicles. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Whats our next move? On the date of publication, Will Ashworth did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Gores Guggenheim believes the deal will raise about $850 million in gross proceeds. 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. All rights reserved. The technology is used widely in the. Special purpose acquisition company (SPAC) Gores Guggenheim (NASDAQ: GGPI) continues to be on schedule with its planned merger with electric vehicle (EV) maker Polestar. This particular EV play is appealing for two reasons. Started over 40 years ago by a business visionary named Tom Phillips, we publish detailed research and recommendations for self-directed investors, financial advisors and money managers. However, what he said next did. However, it was what he said Polestar is and isnt that caught my attention. If youre investing in AI stocks, watch out for these revenue and earnings tricks, After loss against Meta, Lina Khans ability to rein in Big Tech with the FTC is being questioned, Veris Residential and Rogers Stock See Action From Activist Investors, The U.S. housing market is crumbling under the weight of higher mortgage rates and rock-bottom affordability: Prices fell the most in these U.S. states, Am I crazy? After my mother died, my cousin took her designer purse, and my aunt took 8 paintings from her home then things really escalated. Instead, get to know the company a little better. quotes delayed at least 15 minutes, all others at least 20 minutes. Its opening more of them anyway. At least, based on its success so far, and on future projections. Market is a lot different now versus CCIV/LCID times. Amidst a proxy fight with Trian, Walt Disney Co. (DIS) announced that it will cut ~7k jobs as part of a $5.5B cost savings plan. ET It has been over a month since the rumor started floating that the SPAC Gores Guggenheim (GGPI) could merge with premium EV manufacturer Polestar. All rights reserved. GGPI Stock Heats Up as Polestar SPAC Merger Closes, Do Not Sell My Personal Information (CA Residents Only). Our Standards: The Thomson Reuters Trust Principles. Source: Jeppe Gustafsson / Shutterstock.com. Critics of the practice include Warren Buffett. Once the deal is completed, Polestar will trade under the ticker symbol PSNY on the Nasdaq. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Enthusiasm about the. It previously said it has another model in development called the Precept, which is a larger sedan. However, if you own, for China, South Carolina and Europe. Special purpose acquisition company (SPAC) Gores Guggenheim (NASDAQ:GGPI) continues to be on schedule with its planned merger with electric vehicle (EV) maker Polestar. The reverse merger between GGPI and Polestar is one of the few large SPAC deals to happen this year. Polestar Announces 270-Mile EPA Range, Power Upgrades, and Efficiency Aug. 17 2021, Published 3:11 p.m. On the date of publication, Joel Baglole did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The factors still affecting EV stock performance could carry on in the months ahead. For the company going public, a SPAC merger serves as an alternative to a traditional IPO. Polestar Provides Next Glimpse of Polestar 3 and Reaffirms Growth Plans Accumulated other comprehensive incom InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Amidst production hiccups at rivals, Polestar is delivering. On July 8,. In fact, he should be used by U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler as an example of the good accomplished with blank-check names. Polestar touts an asset-light business model as a key differentiator by having existing productions lines provided by backers Volvo and Geely, so it can focus on investing in research. Merger : GGPI - Reddit Its safe to say this isnt the best market for an EV company to debut. Create your Watchlist to save your favorite quotes on Nasdaq.com. Subscriber Agreement & Terms of Use | 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. Get in Now on Tiny $3 Forever Battery Stock, Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air. Plus500. After many months of wait, the tie-up between Gores Guggenheim and Polestar is nearing completion. Copy and paste multiple symbols separated by spaces. DWACW (Digital World Acquisition) Owner Earnings per Share Lorem ipsum dolor sit amet, consectetur adipiscing elit. Buy GGPI Before The Merger With Polestar - SeekingAlpha Deal Announcement for ISAA /HYPEBEAST . Nevertheless, even as EV stock mania has waned, the EV trend isnt going away. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. $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 Yet if youve done your research, and are bullish on the future prospects of this promising EV play, consider GGPI stock a buy. I share my. As a result, I think its chances of survival are much higher than brands such as, On the date of publication, Will Ashworth. After the merger, the combined entity. Data is a real-time snapshot *Data is delayed at least 15 minutes. Intraday data delayed at least 15 minutes or per exchange requirements. Current equity holders of Polestar, who will roll their entire interest in the combined company, will retain about 94% ownership, it said. Copyright Instead, it would be a niche producer of EVs. Last year, a record 613 SPAC listings occurred on U.S. exchanges, raising a total of $145 billion. 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. Thats well above where it currently trades under the $11.50 level. 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. Anticipation on GGPI/Polestar merger. PSQ Holdings is a marketplace that connects who it describes as "freedom-loving" Americans. SPACs are publicly listed companies that are raised with the intention of merging with a private company at a later date. 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. Cookie Notice (). The critical distinction about Polestar is that its not a startup. Now, with volatility likely to continue into 2022, some possible alternatives exist as a short-term solution for risk-averse EV investors. The transaction is expected to close in the first half of the year. Despite being outside the top 10, its a reasonable amount of exposure. Sept 27 (Reuters) - Swedish electric-car maker Polestar said on Monday it will go public by merging with a U.S.-listed blank-check firm backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20 billion. Pending SPAC Mergers - Stock Market MBA Its beginning dates back to. 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. 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. At $11.20 it's $24 billion. Lastly, the fact that Ingenlath doesnt want to be something to everyone suggests that he fully understands Polestars target market. Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU) is a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, founded by Alec Gores, and by an affiliate of Guggenheim Capital, LLC. Before today, GGPI stock traded at $10.84 per share, down about 7% year-to-date (YTD). This news follows the September announcement of Polestar's intention to list on Nasdaq in connection with its proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), which is expected to close in the first half of 2022. Because if it runs as Polestar it will do so premarket. Changing market conditions (namely, rising interest rates) have put pressure on their valuations. Polestar intends to list on the Nasdaq in a proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), which is expected to close in June 2022. Silicon Valley Confronts the End of Growth. Of course, shares of many EV companies are down this year, including market leader Tesla (NASDAQ:TSLA). proporcionarte nuestros sitios y aplicaciones; autenticar usuarios, aplicar medidas de seguridad y evitar el spam y los abusos, y. medir el uso que haces de nuestros sitios y aplicaciones. As a result, Geely owns 50.5% of Polestars equity while Volvo owns 49.5%. Additionally, a possible third alternative here is to buy the First Trust Nasdaq Global Auto Index Fund (NASDAQ:CARZ). That is, when EV companies, in the process of ramping up production, can get their facilities firing on all cylinders. In December, its currently down almost 16%.