Li-Cycle (LICY) CEO Ajay Kochhar joins Know Who Drives Return to discuss lithium ion battery recycle in the latest podcast episode. 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. 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 was first established in 1996by Swedish automotive giantVolvo (OTCMKTS:VLVLY). InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Polestar delivered about 10,000 vehicles globally last year and expects to sell about 290,000 vehicles per year by 2025. However, at one point in mid-November, GGPI stock was trading as high as $16.41. Sign up for free newsletters and get more CNBC delivered to your inbox. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. We earn $400,000 and spend beyond our means. The aim of the Polestar range is to be sportier and to have a stronger focus on the driver. However, thats an entirely different subject than whether you should buy GGPI at todays prices. . 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. 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. in July and Gores brought $310 million in cash to the deal after redemptions. The industry leader for online information for tax, accounting and finance professionals. He lives in Halifax, Nova Scotia. Current equity holders of Polestar, who will roll their entire interest in the combined company, will retain about 94% ownership, it said. 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 doesnt matter if you have $500 in savings or $5 million. Para obtener ms informacin sobre cmo utilizamos tus datos personales, consulta nuestra Poltica de privacidad y Poltica de cookies. "We will build in America for Americans," says Thomas Ingenlath, Polestar CEO. either via e-mail at [emailprotected] or by telephone at (212) 971-1341. Broadcom continued to produce better results and forecast better near-term sales than Wall Street expects Thursday, and shares rose in extended trading. 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. Nordstrom says it will end its business in Canada to help shore up profit after reporting weaker-than-expected sales results and forecasts. 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. If you havent bought it, thats great news because you still have time to get in before GGPI takes off post-merger. Ultimately, Tyler felt that waiting could get you a better entry point. Despite being outside the top 10, its a reasonable amount of exposure. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. You might even get a better price in the process.. SPACs are publicly listed companies that are raised with the intention of merging with a private company at a later date. Therefore, it might make sense to buy now before the merger, rather than afterwards. Whats our next move? Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Thats especially the case with GGPI stock. 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 said at the Beijing Motor Show last year that it has another model in development called the Precept, which is a larger sedan. Inc. ("GGPI" or the "Company") (GGPI)a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. SPACs are publicly listed companies that are raised with the intention of merging with a private company at a later date. Navigating stock market volatility since it all began in 2000. I also said that, at these prices, GGPI stock would, The critical distinction about Polestar is that its not a startup. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. Joanna has been analyzing and investing in emerging technologies for over two decades, having led the Technology, Media, and Telecom research at several global investment banks, including Mizuho Securities and Canaccord Genuity. Omg guys I saw GGPI merger in my smartphone notifications and my heart was pounding . That said, unlike LCID, which was a pre-revenue, pre-production company, Polestar is very much established, having met its production target of 29,000 cars in 2021. The deal also includes a PIPE, or private investment in public equity, of $250 million from top-tier institutional investors. Second, it currently trades at an attractive valuation relative to its prospects. The technology is used widely in the vacation rental industry. 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. On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. Polestar has been developing electric vehicles since 2017, the latest of which is a performance roadster. Currently, this stock earns a B rating in my Portfolio Grader. 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. Yet if youve done your research, and are bullish on the future prospects of this promising EV play, consider GGPI stock a buy. 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. The good news for GGPI stock is that relatively speaking Polestar seems far less likely than peers to be one of those companies. Anywhere in between makes it harder to gain customer loyalty. For this, if youre very aggressive, Id suggest taking a half position today and waiting to see if it falls lower. Polestar CEO Thomas Ingenlath recently discussed the companys plans with Automotive News. On May 25, the blank-check company formally announced the date on which shareholders will vote to approve the transaction (June 22). Of course, shares of many EV companies are down this year, including market leader Tesla (NASDAQ:TSLA). New pill cuts cholesterol, heart attacks, Seniors:Heres an easy wayto cut your risk of a heart attack or stroke by nearly 80%. As a result, I think its chances of survival are much higher than brands such as, On the date of publication, Will Ashworth. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. . We continue to view GGPI shares as undervalued heading into the merger. Click here for more information: https://www.monteverdelaw.com/case/gores-guggenheim-inc. 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. In the six weeks since, its moved sideways. In a media statement, Gores Guggenheim confirmed that its shareholders voted to approve the combination with Polestar which will bring the European EV maker to the public market. GGPI Stock Price - Gores Guggenheim, Inc. is a blank check company. Heres why you should consider them. In December, its currently down almost 16%. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. As a result, I think its chances of survival are much higher than brands such as Lucid (NASDAQ:LCID) and Rivian (NASDAQ:RIVN). In 2015, Volvo acquired Polestars high-performance business. 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. Get this delivered to your inbox, and more info about our products and services. If you own the shares of the EV maker already, dont worry about its poor performance recently, I wrote in January. In 2013, Polestar launched the Volvo S60 Polestar. See here for a complete list of exchanges and delays. Si quieres personalizar tus opciones, haz clic en Gestionar configuracin de privacidad. Comprehensive research and analytics on every SPAC, sponsor, and deal. However, over a longer timeframe, it could zoom to price levels well above $20 per share. Type a symbol or company name. We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. Silicon Valley Confronts the End of Growth. After the merger, the combined entity. Heres what investors should know moving forward. The company is headquartered in Sweden but manufactures its EVs in China. As we move into the merger vote, we think GGPI should be trading closer to $20. After a bustling 2021, the entire SPAC market has slowed markedly amid the global market. Si no quieres que nosotros ni nuestros socios utilicemos cookies y datos personales para estos propsitos adicionales, haz clic en Rechazar todo. The CEO came out and said Polestar wasnt going to be Volvo (OTCMKTS:VLVLY) or some other brand looking for mass appeal. 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. 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. Ultimately, Tyler felt that waiting could get you a better entry point. The post Keep an Eye on Gores Guggenheim Stock, as it Gears Up for its EV Merger appeared first on InvestorPlace. It could continue to deliver similar performance in the short-term. As you might be aware, post-merger, Polestars existing shareholders will own, . However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. However, GGPI stock drifted. Copyright 2023 MarketWatch, Inc. All rights reserved. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. The focus was entirely on internal combustion-powered vehicles. Excluding employee stock compensation from one measure of earnings make them look more favorable. The decision is yours to make. Two years later, it made a move to electric-powered performance vehicles. Don't take it as financial . At $11.20 it's $24 billion. Investors still bullish on EV stocks can purchase shares of Polestar once PSNY stock starts trading tomorrow morning. Nevertheless, even as EV stock mania has waned, the EV trend isnt going away. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. We want to hear from you. Supply chain headwinds, which have resulted in EV makers walking back revenue and delivery targets, have played a role as well. Defends Financial Benefits of IAA Deal. While its debatable how much of a deal pop well see on close, the fundamentals here are whats most important. On the date of publication, Will Ashworth. 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. Enthusiasm about the. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Featured. March 1, 2023. Theres even room for more lines. Thats well above where it currently trades under the $11.50 level. Copyright 2023 InvestorPlace Media, LLC. However, of the two, GELYY stock volumes are a little higher. 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. Hertz pushing to be the largest EV rental fleet, adding zero emission models. Right now investors are paying. What happens to my Social Security benefit if my husband dies? Today's announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. Additionally, a possible third alternative here is to buy the First Trust Nasdaq Global Auto Index Fund (NASDAQ:CARZ). Our Standards: The Thomson Reuters Trust Principles. Many EV enthusiasts see its focus on performance vehicles as a differentiator. After a bustling 2021, the entire SPAC market has slowed markedly amid theglobal marketdownturn. While retail investors on social media tend to focus on powertrain modes and the time from 0-60mph, Polestar management is focused on building a sustainable, dependable car. 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. Is GGPI a buy now in 2021? Nasdaq The SPAC merger deal was announced on Sept. 27, where GGPI SPAC agreed to merge with the Swedish private EV car maker Polestar. Its opening more of them anyway. On 11/4/2021 the company announced a proposed merger with TradeStation Group, Inc, who provides award-winning trading and . Because if it runs as Polestar it will do so premarket. Amidst production hiccups at rivals, Polestar is delivering. Even as the Polestar deal, which shareholders will vote to approve later this month, is on the verge of closing. Real-time alerts, yields, red flags, filings, investors, and much more. As background, Polestar is jointly owned by Volvo and its parent company Chinese OEM Geely (GELYY). 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. The Car Design Award was established in 1984 by Fulvio Cinti, founder and editor-in-chief of Auto&Design for more than thirty years. API access to institutional grade SPAC database. 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Reddit and its partners use cookies and similar technologies to provide you with a better experience. Copy and paste multiple symbols separated by spaces. Fifty years from now, it might turn out that Polestars affiliation with Volvo did little to catapult it into the EV big leagues. But there is reason to believe that quality, well-run EV companies like PSNY will survive and thrive in the years ahead. It predicts it will rake in $1.6 billion in revenue this year and double that number next year. American Airlines (AAL) announces its new chairman of the board as Gregory D. Smith, the former CEO of Boeing (BA). 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 beginning next year. 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. Im a big believer in Alec Gores, the chairman behind this SPAC. EQT Buys Majority Stake in South Korean Security Provider SK Shieldus, Nagarro 4Q Ebitda Rose; Backs 2023 Outlook, SFS Group 2022 Sales Rose Boosted By Hoffman Acquisition, Ipsen Completes Acquisition of Albireo Pharma. First, despite its also-ran reputation, its one of the more promising early stage names in this space. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. At writing, its at $9.97 per share, just a penny above its debut price. Puedes cambiar tus opciones en cualquier momento haciendo clic en el enlace Panel de control de privacidad de nuestros sitios y aplicaciones. Again, such middling performance could carry on, before and after the deal closing. See here for a complete list of exchanges and delays. Our 3 Top Picks. Last year, a record 613 SPAC listings occurred on U.S. exchanges, raising a total of $145 billion. Its anyones guess when exactly EV stocks will take off again. Under the terms of the agreement, GGPI . Despite being outside the top 10, its a reasonable amount of exposure. The five-year agreement gives renters an alternative to Tesla (TSLA), which announced a relationship with Hertz in November 2021. GGPI shares have been trading in a steady ~$11 range prior to day's announcement (shares are up 8% intraday). 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. GGPI shares have been trading in a steady ~$11 range prior to days announcement (shares are up 8% intraday). Sign up below to get this incredible offer! Accumulated other comprehensive incom 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. From the day the Polestar 1 was launched, I have been a fan of the brands designs. As you might be aware, post-merger, Polestars existing shareholders will own 94% of the company. Instead, it would be a niche producer of EVs. Post-merger, itll have a market capitalization of $21.8 billion. A key advantage we have highlighted repeatedly is Polestars existing partnerships / manufacturing relationships. All quotes are in local exchange time. So naturally, theCEO had a lot to say on the subject. Decembers SPAC market review takes a look by the numbers of the months SPAC activity and how the market currently stands going into 2023. Type a symbol or company name. 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. 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. 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. For aggressive, long-term investors who seek exposure to electric vehicles and dont already own GGPI stock, it is an excellent name to buy. On the date of publication, Joel Baglole did not hold (either directly or indirectly) any positions in the securities mentioned in this article. That company provides digital twins of properties. The focus was entirely on internal combustion-powered vehicles. An alternative to Tesla. quotes delayed at least 15 minutes, all others at least 20 minutes. While the vast majority of these vehicles will be sold in China, the company is also making a push into other Asian markets. Prior to merger deal announcements, SPAC stocks tend to stay close to $10 a share. For Hertz, the partnership builds on the companys ongoing commitment to lead in electrification and shared mobility. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. I entered GGPI and will increase my position tomorrow tho. Based on a $49K starting price, the deal is valued at ~$3.2B. Barring unforeseen developments, Polestar ought to deliver considerable wealth to its patient shareholders in the future.. The reverse merger between GGPI and Polestar is one of the few large SPAC deals to happen this year. This report contains opinions and is provided for informationalpurposes only it does not constitute investment, legal or tax advice. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. 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. Lifes a beach for this Florida FIRE couple, Cant take statins? Gores has done as good a job as anyone demonstrating that blank-check companies can deliver the goods. 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. It was established to help Volvo win the Swedish Touring Car Championship. Consumers looking for more ways to save money helped Kroger beat profit expectations and provide an upbeat outlook. NEW YORK, Nov. 29, 2021 /PRNewswire/ -- Juan Monteverde, founder and managing partner of the firm Monteverde & Associates PC ("M&A Firm"), a national securities firm ratedTop 50in the 2018-2020 ISS Securities Class Action Services Report and headquartered at theEmpire State Buildingin New York City, is investigatingGores Guggenheim. On July 8,. But its a very different market now, amidst a more tepid outlook for growth stocks. from 8 AM - 9 PM ET. Place to discuss GGPI and Polestar. The deal announcement stated it would close before June 30, 2022. 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. Copyright Under the terms of the agreement, GGPI shareholders will retain less than 6% ownership of the combined company. Cookie Notice (). So far this year, there have only been 11 SPAC listings valued at $25 million or more. Ends. Targeted companies such as Disney and Salesforce are learning how to grab the momentum back from activists, and communicate more effectively. Cision Distribution 888-776-0942 company, and Gores Guggenheim, Inc. ("Gores Guggenheim") (Nasdaq: GGPI, GGPIW and GGPIU), a special purpose acquisition company ("SPAC") formed by affiliates of The Gores Group and Guggenheim Capital, LLC, announced today that they have entered into a definitive business combination agreement (the "Business Combination Agreement"). Gores Guggenheim went public with its initial public offering (IPO) in March. The Polestar deal will be supported by cash proceeds of around $800 million from Gores Guggenheim, assuming no share redemptions by public stockholders of the blank-check firm. 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. 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. A recovery may not happen until the market has absorbed the changes in economic and market conditions. All quotes delayed a minimum of 15 minutes. 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