. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. Press J to jump to the feed. On the date of publication, Will Ashworth did not hold (either directly or indirectly) any positions in the securities mentioned in this article. And Im not the only one. We were listed in theTop 50in the 2018-2020 ISS Securities Class Action Services Report. The funding will be used to. Still think GGPI is undervalued. 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. . 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. Ends. The reverse merger between GGPI and Polestar is one of the few large SPAC deals to happen this year. Accumulated other comprehensive incom Inc. ("GGPI" or the "Company") (GGPI) a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. Of course, shares of many EV companies are down this year, including market leader Tesla (NASDAQ:TSLA). For aggressive, long-term investors who seek exposure to electric vehicles and dont already own GGPI stock, it is an excellent name to buy. The higher the price point, the easier it is to pull off. Historical and current end-of-day data provided by FACTSET. 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. So, this all gives you two alternatives to GGPI stock: either Volvo or Geely. Shares of the blank-check firm pared earlier gains and were up around 3% before the bell. Got a confidential news tip? The decision is yours to make. On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. At least 73 SPACs that had planned to go public this year have since been canceled due to deteriorating market conditions. 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. The merger with Polestar via SPAC deal to take it public is finally nearing completion. Build your trading network; Follow your favorite assets . Gores has done as good a job as anyone demonstrating that blank-check companies can deliver the goods. "We will build in America for Americans," says Thomas Ingenlath, Polestar CEO. It doesnt matter if you have $500 in savings or $5 million. 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. GGPI Stock Price - Gores Guggenheim, Inc. is a blank check company. Theres even room for more lines. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Polestars listing gives investors access to an interesting opportunity, however. The Gravity performance luxury SUV is expected to come to market in North America in 2023. (C) 2021 Monteverde & Associates PC. Special purpose acquisition company (SPAC) Gores Guggenheim (NASDAQ:GGPI) continues to be on schedule with its planned merger with electric vehicle (EV) maker Polestar. 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. Plus500. 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. 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. Salesforce Inc. (CRM) surges after hours following earnings amidst potential activist activity and todays SPAC, IPO, and Exec News. 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. Last month, Hertz added Teslas mid-size SUV Model Y to its electric vehicle fleet. The company is headquartered in Sweden but manufactures its EVs in China. InvestorPlace is one of Americas largest, longest-standing independent financial research firms. 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. Navigating stock market volatility since it all began in 2000. Para obtener ms informacin sobre cmo utilizamos tus datos personales, consulta nuestra Poltica de privacidad y Poltica de cookies. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 7 Tech Stocks Worth Snatching Up After Their Tumble. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. However, I also said that investors need not rush to buy the SPAC before the merger happens. Polestar said at the Beijing Motor Show last year that it has another model in development called the Precept, which is a larger sedan. On July 8,. Despite being outside the top 10, its a reasonable amount of exposure. Visit a quote page and your recently viewed tickers will be displayed here. Bruce Ogilvie and Jeff Walker discuss Alliance Entertainment going public via Adara Acquisition Corp. (ADRA). At the time of this writing, the stock is down 2.83% on the day, closing in on $11. read more. Establishing itself in the European market, it could see tremendous growth as it enters the U.S. market. 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. 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. 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. The deal announcement stated it would close before June 30, 2022. Its beginning dates back to 1996. Deal Announcement for ISAA /HYPEBEAST . All rights reserved. Most important, the company is well underway with production and revenue generation ($1.6B in 2021 sales). 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. 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. As a result, I think its chances of survival are much higher than brands such as, On the date of publication, Will Ashworth. Transaction is expected to be completed in the second quarter of 2022. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. 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. The premium EV maker's offering includes two models: a hybrid car known as Polestar 1 and a fully electric Polestar 2. 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. An analyst thinks theres a good chance that PayPal will make an acquisition in the next few months and runs through the most likely -- and least likely -- scenarios. The deal is expected to close later today. 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. I think this stock may continue to trade in the low teens until the de-SPAC merger happens in 2022. 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. Many EV enthusiasts see its focus on performance vehicles as a differentiator. 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. 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. News, Media, rumors,and general discussion topics are welcome! At writing, its at $9.97 per share, just a penny above its debut price. Supply chain headwinds, which have resulted in EV makers walking back revenue and delivery targets, have played a role as well. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Prior to merger deal announcements, SPAC stocks tend to stay close to $10 a share. GGPI Stock Heats Up as Polestar SPAC Merger Closes, Do Not Sell My Personal Information (CA Residents Only). As a result, Geely owns 50.5% of Polestars equity while Volvo owns 49.5%. Polestar was first established in 1996by Swedish automotive giantVolvo (OTCMKTS:VLVLY). The transaction is expected to close in the first half of the year. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Featured. Ingenlaths comments in Automotive News laid out Polestars three-pronged production plan for China, South Carolina and Europe. Based on a $49K starting price, the deal is valued at ~$3.2B. So naturally, theCEO had a lot to say on the subject. At least, based on its success so far, and on future projections. 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.