As we move into the merger vote, we think GGPI should be trading closer to $20. The transaction is expected to close in the first half of the year. GGPI / Polestar trades higher on HTZ deal . As background, Polestar is jointly owned by Volvo and its parent company Chinese OEM Geely (GELYY). in July and Gores brought $310 million in cash to the deal after redemptions. 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. GGPI Stock Will Pop Post Merger, But There's Still Time to Buy Join the Conversation! Most important, the company is well underway with production and revenue generation ($1.6B in 2021 sales). However, thats an entirely different subject than whether you should buy GGPI at todays prices. For this, if youre very aggressive, Id suggest taking a half position today and waiting to see if it falls lower. Joel Baglole for The post Gores Guggenheim Is a Buy, But Consider an Alternative in the Short Term appeared first on InvestorPlace. Currently, this stock earns a B rating in my Portfolio Grader. Shares of Gores Guggenheim pared some earlier gains and were up over 4% in morning trading. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. On May 25, the blank-check company formally announced the date on which shareholders will vote to approve the transaction (June 22). Anyways we could very well see 20-30$. Polestar Provides Next Glimpse of Polestar 3 and Reaffirms Growth Plans BA sits down with Aria Glasgow, Head of ESG Advisory at Aon, to discuss the intersection ESG and Human Capital and the risk for corporates. The company is headquartered in Sweden but manufactures its EVs in China. Do this now. Si no quieres que nosotros ni nuestros socios utilicemos cookies y datos personales para estos propsitos adicionales, haz clic en Rechazar todo. The company, which delivered about 10,000 vehicles last year, said it expects to sell about 290,000 vehicles per year by 2025 and plans to launch three new models by 2024. Polestar SPAC Merger Makes GGPI Stock a Hot Item - InvestorPlace The Gores Group led by chairman Alec Gores and CEO Mark Stone announced the deal between Gores Guggenheim Inc (NASDAQ: GGPI) and electric vehicle company Polestar. While EV stocks were hot as recently as last fall, thats far from the case today. GGPI shares starting to regain momentum ahead of merger vote. In the six weeks since, its moved sideways. AONs Aria Glasgow on Managing ESG and Human Capital Risk, Korn Ferrys Anthony Goodman on the Importance of Board Evaluations, Podcast: Getaround CEO Sam Zaid on Carsharing and Going Public, What to Know about Universal Proxy with Bruce Goldfarb of Okapi Partners, Podcast: Li-Cycles (LICY) Ajay Kochhar on Lithium Ion Battery Recycling and EVs, SPAC Podcast: Alliance Entertainment & Adara Acquisition. Once the deal is completed, Polestar will trade under the ticker symbol PSNY on the Nasdaq. Check out our February podcast with CEO Thomas Ingenlath, and detailed analysis of GGPI here. The transaction is expected to close in the first half of the year. Polestar have confirmed the previously rumoured SPAC merger with GGPI bringing the EV manufacturer to the NASDAQ with a valuation of $20 billion. Nelzon Peltz and Trian dropped their proxy fight against Walt Disney Co. (DIS) following Disneys cost cutting, reorg, and board appointments. If you own the shares of the EV maker already, dont worry about its poor performance recently, I wrote in January. Provided by Benzinga Since. This report contains opinions and is provided for informationalpurposes only it does not constitute investment, legal or tax advice. At writing, its at $9.97 per share, just a penny above its debut price. 1125 N. Charles St, Baltimore, MD 21201. The technical storage or access that is used exclusively for anonymous statistical purposes. Of course, shares of many EV companies are down this year, including market leader Tesla (NASDAQ:TSLA). However, of the two, GELYY stock volumes are a little higher. 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. However, according to Volvo, only 100 were made in the initial year. Not bad, given that, if it grows as expected, itll generate $17.6 billion in annual sales by 2025. Fifty years from now, it might turn out that Polestars affiliation with Volvo did little to catapult it into the EV big leagues. Amidst production hiccups at rivals, Polestar is delivering. This is because either your product or service appeals to the top 20% of household incomes or the bottom 20%. First, despite its also-ran reputation, its one of the more promising early stage names in this space. Contact:Juan E. Monteverde, Esq.MONTEVERDE & ASSOCIATES PCThe Empire State Building350 Fifth Ave. Suite 4405New York, NY 10118United States of America[emailprotected]Tel: (212) 971-1341. While its debatable how much of a deal pop well see on close, the fundamentals here are whats most important. Many EV enthusiasts see its focus on performance vehicles as a differentiator. We continue to like Polestars long term outlook and view the company as an emerging contender in the EV space. It previously said it has another model in development called the Precept, which is a larger sedan. Owner Earnings per Share (TTM) explanation, calculation, his 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. This particular EV play is appealing for two reasons. The Polestar deal will be supported by cash proceeds of around $800 million from Gores Guggenheim Inc, assuming no share redemptions by public stockholders of the blank-check firm. As I stated in January, I think GGPI stock soon to be PSNY once the merger is completed is an excellent long-term buy, primarily because it already has sold 29,000 vehicles (2021), it. This browser is no longer supported at MarketWatch. The Polestar deal will be supported. Get in Now on Tiny $3 Forever Battery Stock, Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air. 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. See here for a complete list of exchanges and delays. Polestar itself is a joint venture between, However, because Geely owns 78.4% of Volvo Cars stock not to mention nearly 97% of its voting power Polestar will ultimately be controlled by the Chinese car company and billionaire Li Shufu, the worlds, Additionally, a possible third alternative here is to buy the. 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. Inc. ("GGPI" or the "Company") (GGPI)a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. Despite being outside the top 10, its a reasonable amount of exposure. 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. GGPI Stock Heats Up as Polestar SPAC Merger Closes - Nasdaq either via e-mail at [emailprotected] or by telephone at (212) 971-1341. InvestorPlace is one of Americas largest, longest-standing independent financial research firms. On the date of publication, Will Ashworth did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Establishing itself in the European market, it could see tremendous growth as it enters the U.S. market. See here for a complete list of exchanges and delays. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior to merger deal announcements, SPAC stocks tend to stay close to $10 a share. Okapis Bruce Goldfarb joins the podcast to discuss the new Universal Proxy Rules and what it means for investors and board members. 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. We were listed in theTop 50in the 2018-2020 ISS Securities Class Action Services Report. Buy GGPI Before The Merger With Polestar - SeekingAlpha Gores Guggenheim completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds for the purpose of effecting a merger, capital stock exchange, asset. Higher interest rates aren't deterring companies with high credit ratings from borrowing in the U.S. corporate bond market at a record clip in 2023. Hedge funds sells stakes in Trump SPAC firm DWAC after merger news - CNBC 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. Rubicon Technologies (RBT) CEO Jevan Anderson resigned, Marblegate is merging with itself, and the rest of the days digest. Hertz pushing to be the largest EV rental fleet, adding zero emission models. 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. Electric-car maker Polestar strikes $20-billion deal with Gores - CNBC 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. Current equity holders of Polestar, who will roll their entire interest in the combined company, will retain about 94% ownership, it said. Right now investors are paying. All quotes are in local exchange time. Also, dont base a decision to buy or not just on a surface level view of the company. Inc. ("GGPI" or the "Company") (GGPI) a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. For the best MarketWatch.com experience, please update to a modern browser. Investors still bullish on EV stocks can purchase shares of Polestar once PSNY stock starts trading tomorrow morning. The Company will not generate any operating revenues until after the completion of its Business Combination, at the earliest. EV maker Polestar going public via a SPAC with Gores Guggenheim. An alternative to Tesla. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Todays announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. However, it was what he said Polestar is and isnt that caught my attention. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Broadcom continued to produce better results and forecast better near-term sales than Wall Street expects Thursday, and shares rose in extended trading. Consumers looking for more ways to save money helped Kroger beat profit expectations and provide an upbeat outlook. At least, based on its success so far, and on future projections. What Is the Best EV Stock to Buy Now? It was a slower month to kick off the year for SPACs. Under the terms of the agreement, GGPI . Initial orders are for the Polestar 2 sedan. The deal announcement stated it would close before June 30, 2022. Enthusiasm about the. Polestar CEO Thomas Ingenlath recently discussed the companys plans with Automotive News. Shares of the blank-check firm pared earlier gains and were up around 3% before the bell. Today's announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. Sign up for free newsletters and get more CNBC delivered to your inbox. GGPI Stock Heats Up as Polestar SPAC Merger Closes, Do Not Sell My Personal Information (CA Residents Only). did not hold (either directly or indirectly) any positions in the securities mentioned in this article. 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. 2023 InvestorPlace Media, LLC. At the end of November, I argued that GGPI stock was a better buy for aggressive investors than Rivian (NASDAQ:RIVN) in the long term. Although its unclear whether it zooms or sits idle in the near-term, over a longer timeframe it could really take off. However, at one point in mid-November, GGPI stock was trading as high as $16.41. Article printed from InvestorPlace Media, https://investorplace.com/2022/03/ggpi-stock/. However, because Geely owns 78.4% of Volvo Cars stock not to mention nearly 97% of its voting power Polestar will ultimately be controlled by the Chinese car company and billionaire Li Shufu, the worlds 52nd wealthiest person. 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. Lucid Motors strikes SPAC deal to go public with $24 - TechCrunch Recently, I also suggested that, That company provides digital twins of properties. He was right. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. At the time of this writing, the stock is down 2.83% on the day, closing in on $11. 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. Merging with Colombier Acquisition in $200M Deal. Transaction is expected to be completed in the second quarter of 2022. Heres why you should consider them. API access to institutional grade SPAC database. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. The volatility amongst EV manufacturers has been significant in the second half of 2021. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. Approval of the SPAC deal was widely expected. Create an account to follow your favorite communities and start taking part in conversations.
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