Prior to merger deal announcements, SPAC stocks tend to stay close to $10 a share. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. All rights reserved. Polestar SPAC Merger CONFIRMED! - Is GGPI a buy? - YouTube Anyways we could very well see 20-30$. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. The technology is used widely in the vacation rental industry. Right now investors are paying. Also, dont base a decision to buy or not just on a surface level view of the company. All rights reserved. Copyright 2023 InvestorPlace Media, LLC. Li-Cycle (LICY) CEO Ajay Kochhar joins Know Who Drives Return to discuss lithium ion battery recycle in the latest podcast episode. $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 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 vehicles will be produced at its new factory in Casa Grande, Arizona. 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. Press question mark to learn the rest of the keyboard shortcuts. A key advantage we have highlighted repeatedly is Polestars existing partnerships / manufacturing relationships. PublicSq. 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. 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 merger with Polestar via SPAC deal to take it public is finally nearing completion. Yet while its made this major progress, its not resulting in a big move for shares. 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. He was right. Moreover, Polestar put together a very good slide deck presentation . This particular EV play is appealing for two reasons. What happens to my Social Security benefit if my husband dies? As a result, I think its chances of survival are much higher than brands such as Lucid (NASDAQ:LCID) and Rivian (NASDAQ:RIVN). All quotes delayed a minimum of 15 minutes. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. GGPI / Polestar trades higher on HTZ deal . Salesforce Inc. (CRM) surges after hours following earnings amidst potential activist activity and todays SPAC, IPO, and Exec News. As the deal approaches a close, GGPI shares have formed a solid base of support. 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 expects to produce 65,000 in 2022 and 290,000 annually by 2025. 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. All Rights Reserved. Then I realized it was just a survey. For 2022 and 2023, Polestar has guided to $3.2 B and $6.7B in sales, respectively. Copy and paste multiple symbols separated by spaces. 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. 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. Cision Distribution 888-776-0942 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. did not have (either directly or indirectly) any positions in the securities mentioned in this article. For the best MarketWatch.com experience, please update to a modern browser. Gores Guggenheim Stock News and Forecast: GGPI stock sets - FXStreet 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. Objective, data-driven assessments for every public company director and officer. 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. For the company going public, a SPAC merger serves as an alternative to a traditional IPO. "We will build in America for Americans," says Thomas Ingenlath, Polestar CEO. After the merger, the combined entity. Place to discuss GGPI and Polestar. Written by Shares of the blank-check firm pared earlier gains and were up around 3% before the bell. Privacy Notice | 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. Inc. ("GGPI" or the "Company") (GGPI) a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. I also said that, at these prices, GGPI stock would, The critical distinction about Polestar is that its not a startup. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 1125 N. Charles St, Baltimore, MD 21201. He particularly enjoys creating model portfolios that stand the test of time. 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. 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. Because if it runs as Polestar it will do so premarket. Prior results do not guarantee a similar outcome with respect to any future matter. Consumers looking for more ways to save money helped Kroger beat profit expectations and provide an upbeat outlook. Polestar's listing plan comes as automakers shift their focus to environment-friendly vehicles, amid rising pressure from lawmakers and investors concerned about climate change. Got a confidential news tip? Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. Despite being outside the top 10, its a reasonable amount of exposure. 2023 InvestorPlace Media, LLC. Enthusiasm about the. Si quieres personalizar tus opciones, haz clic en Gestionar configuracin de privacidad. All quotes are in local exchange time. Article printed from InvestorPlace Media, https://investorplace.com/2022/03/ggpi-stock/. Barring unforeseen developments, Polestar ought to deliver considerable wealth to its patient shareholders in the future.. On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. Recently, I also suggested that Matterport (NASDAQ:MTTR) was an excellent buy under $20. GGPI / Polestar gaining momentum on 5-Year HTZ Deal Will Ashworth has written about investments full-time since 2008. The opinions expressed in this article are those of the writer, subject to the, 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Polestar Announces 270-Mile EPA Range, Power Upgrades, and Efficiency The five-year agreement gives renters an alternative to Tesla (TSLA), which announced a relationship with Hertz in November 2021. In fact, as its already reached the billion dollar mark in terms of sales, calling it early stage may be a misnomer. Intraday Data provided by FACTSET and subject to terms of use. Our 3 Top Picks. See here for a complete list of exchanges and delays. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. The higher the price point, the easier it is to pull off. The technical storage or access that is used exclusively for statistical purposes. Ultimately, Tyler felt that waiting could get you a better entry point. As you might be aware, post-merger, Polestars existing shareholders will own 94% of the company. Last month, Hertz added Teslas mid-size SUV Model Y to its electric vehicle fleet. Source: Jeppe Gustafsson / Shutterstock.com. 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. 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. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Puedes cambiar tus opciones en cualquier momento haciendo clic en el enlace Panel de control de privacidad de nuestros sitios y aplicaciones. Copyright 2023 MarketWatch, Inc. All rights reserved. The good news for GGPI stock is that relatively speaking Polestar seems far less likely than peers to be one of those companies. 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. Accumulated other comprehensive incom Keep an Eye on Gores Guggenheim Stock, as it Gears Up for its EV Merger Despite being outside the top 10, its a reasonable amount of exposure. 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. Most important, the company is well underway with production and revenue generation ($1.6B in 2021 sales). API access to institutional grade SPAC database. Merger : GGPI - Reddit Hedge funds sells stakes in Trump SPAC firm DWAC after merger news - CNBC Is GGPI a buy now in 2021? 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. As reference, LCID, which is still in early production, trades at ~10x 2023E sales. Banjo player, artist, and frittata-maker. This is because either your product or service appeals to the top 20% of household incomes or the bottom 20%. DWAC (Digital World Acquisition) Accumulated other comprehensive income (loss) as of today (March 02, 2023) is $0.00 Mil. 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. The decision is yours to make. . Its anyones guess when exactly EV stocks will take off again. But its a very different market now, amidst a more tepid outlook for growth stocks. We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. Yet if youve done your research, and are bullish on the future prospects of this promising EV play, consider GGPI stock a buy. Para obtener ms informacin sobre cmo utilizamos tus datos personales, consulta nuestra Poltica de privacidad y Poltica de cookies. 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. As we move into the merger vote, we think GGPI should be trading closer to $20. Nelzon Peltz and Trian dropped their proxy fight against Walt Disney Co. (DIS) following Disneys cost cutting, reorg, and board appointments. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. However, what he said next did. This report contains opinions and is provided for informationalpurposes only it does not constitute investment, legal or tax advice. Stock Market | Daily Penny Alerts New pill cuts cholesterol, heart attacks, Seniors:Heres an easy wayto cut your risk of a heart attack or stroke by nearly 80%. Critics of the practice include Warren Buffett. Im a big believer in Alec Gores, the chairman behind this SPAC. He has also been selected by Martindale-Hubbell as a 2017-2021 Top Rated Lawyer. Why Chubb Stock Is a Buy. This browser is no longer supported at MarketWatch. Around the same time as my article, fellow InvestorPlace contributor Chris Tyler argued that technical analysis of the stock suggested the beginning of December wasnt the time to buy either. While the vast majority of these vehicles will be sold in China, the company is also making a push into other Asian markets. 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. Ultimately, Tyler felt that waiting could get you a better entry point. SPAC Merger. Type a symbol or company name. I entered GGPI and will increase my position tomorrow tho. Its beginning dates back to 1996. Polestar CEO Thomas Ingenlath recently discussed the companys plans with Automotive News. in July and Gores brought $310 million in cash to the deal after redemptions. For the company going public, a SPAC merger serves as an alternative to a traditional IPO. The funding will be used to. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). 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. For aggressive, long-term investors who seek exposure to electric vehicles and dont already own GGPI stock, it is an excellent name to buy. Both stocks are thinly traded over the counter. . He lives in Halifax, Nova Scotia. Create an account to follow your favorite communities and start taking part in conversations. 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. At $11.20 it's $24 billion. And Im not even a total car geek. A recovery may not happen until the market has absorbed the changes in economic and market conditions. EV maker Polestar strikes $20-bln deal with Gores Guggenheim SPAC The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. 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. 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. Im a big believer in Alec Gores, the chairman behind this SPAC. Insurance Doesnt Have to Be Boring. The reverse merger between GGPI and Polestar is one of the few large SPAC deals to happen this year. With that in mind, I continue to believe in Alec Gores real-world record of success with SPACs. Heres why you should consider them. Share of GGPI closed up 12% today on news that the company has a deal . Polestars listing gives investors access to an interesting opportunity, however. Post merger, the combined company will be named Polestar Automotive Holding UK Ltd. and will trade under the symbol "PSNY" on the Nasdaq. The stock did rise the day after the shareholder vote announcement, but since then, its drifting lower. 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. Deal Announcement for ISAA /HYPEBEAST . When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. What Is the Best EV Stock to Buy Now? The SPAC merger deal was announced on Sept. 27, where GGPI SPAC agreed to merge with the Swedish private EV car maker Polestar. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). We use cookies to optimize our website and our service. . 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. Hertz pushing to be the largest EV rental fleet, adding zero emission models. The company is an established EV maker outside the U.S. but not headquartered in China. The Gravity performance luxury SUV is expected to come to market in North America in 2023. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Gores Guggenheim believes the deal will raise about $850 million in gross proceeds. The fact that the company is moving close to 30,000 units this. News, Media, rumors,and general discussion topics are welcome! 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. 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. The volatility amongst EV manufacturers has been significant in the second half of 2021. In 2013, Polestar launched the Volvo S60 Polestar. Under the terms of the agreement, GGPI shareholders will retain less than 6% ownership of the combined company.

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