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. 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. Its safe to say this isnt the best market for an EV company to debut. 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. 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. 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. As we move into the merger vote, we think GGPI should be trading closer to $20. 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. Provided by Benzinga Since. That said, I suppose you could also argue that GGPI will move significantly higher once its trading under its new symbol, PSNY. Defends Financial Benefits of IAA Deal. (C) 2021 Monteverde & Associates PC. Will GGPI Stock Rise More After Polestar Merger Date in 2022? An alternative to Tesla. Once the reverse merger is finalized, shares of Polestar will begin trading on the Nasdaq tomorrow under the PSNY ticker symbol. Gores Guggenheim and Polestar Announce Effectiveness of | GGPI Stock News Under the terms of the agreement, GGPI . Once the deal is completed, Polestar will trade under the ticker symbol PSNY on the Nasdaq. At writing, its at $9.97 per share, just a penny above its debut price. 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. Illusion versus reality. from 8 AM - 9 PM ET. Banjo player, artist, and frittata-maker. It was established to help Volvo win the Swedish Touring Car Championship. As the deal approaches a close, GGPI shares have formed a solid base of support. Polestar is a Swedish electric vehicle manufacturer backed by Volvo and Volvo's de facto . GGPI Stock Is Worth 20% More Based on Polestar's Excellent Outlook Prior to merger deal announcements, SPAC stocks tend to stay close to $10 a share. In 2014, it mass-produced both the S60 and V60 for sale in eight markets. In what stands to be a pivotal year for the future of the market, we recap January. He particularly enjoys creating model portfolios that stand the test of time. All quotes delayed a minimum of 15 minutes. Puedes cambiar tus opciones en cualquier momento haciendo clic en el enlace Panel de control de privacidad de nuestros sitios y aplicaciones. Broadcom continued to produce better results and forecast better near-term sales than Wall Street expects Thursday, and shares rose in extended trading. 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. did not have (either directly or indirectly) any positions in the securities mentioned in this article. Owner Earnings per Share (TTM) explanation, calculation, his We want to hear from you. DWAC (Digital World Acquisition) Accumulated other comprehensive income (loss) as of today (March 02, 2023) is $0.00 Mil. See here for a complete list of exchanges and delays. 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. Polestar is unique in that while its not the flashiest vehicle, the companys main selling proposition is to make reliable cars without gimmicks. The Company will not generate any operating revenues until after the completion of its Business Combination, at the earliest. Targeted companies such as Disney and Salesforce are learning how to grab the momentum back from activists, and communicate more effectively. Omg guys I saw GGPI merger in my smartphone notifications and my heart was pounding . However, over a longer timeframe, it could zoom to price levels well above $20 per share. Im 66, we have more than $2 million, I just want to golf can I retire? Most important, the company is well underway with production and revenue generation ($1.6B in 2021 sales). When typing in this field, a list of search results will appear and be automatically updated as you type. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Don't take it as financial . This particular EV play is appealing for two reasons. Our 3 Top Picks. Lastly, the fact that Ingenlath doesnt want to be something to everyone suggests that he fully understands Polestars target market. On the date of publication, Will Ashworth. Create your Watchlist to save your favorite quotes on Nasdaq.com. All quotes are in local exchange time. Both stocks are thinly traded over the counter. At $11.20 it's $24 billion. Got a confidential news tip? Buy GGPI Before The Merger With Polestar - SeekingAlpha InvestorPlace->, InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Thats especially the case with GGPI stock. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. 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However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. Gores Guggenheim and Polestar Expected to Close Business - Yahoo! Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The industry leader for online information for tax, accounting and finance professionals. However, if you own Gores Guggenheim (NASDAQ:GGPI) stock, one sentence by Ingenlath stands out in a good way. Lifes a beach for this Florida FIRE couple, Cant take statins? It is free and there is no cost or obligation to you. However, of the two, GELYY stock volumes are a little higher. Polestar has been developing electric vehicles since 2017, the latest of which is a performance roadster. Establishing itself in the European market, it could see tremendous growth as it enters the U.S. market. Investors also like the fact a global automotive giant backs Polestar. The technology is used widely in the vacation rental industry. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. I share my. 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. Click here for more information: https://www.monteverdelaw.com/case/gores-guggenheim-inc. February 28, 2023. SPAC Merger. For the best MarketWatch.com experience, please update to a modern browser. GGPI Stock News. Consumers looking for more ways to save money helped Kroger beat profit expectations and provide an upbeat outlook. 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. Second, it currently trades at an attractive valuation relative to its prospects. Deal Announcement for ISAA /HYPEBEAST . Will Ashworth has written about investments full-time since 2008. 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. 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. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. 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. Copyright Gores Guggenheim Is a Buy, But Consider an Alternative in the - Yahoo! Will Ashworth has written about investments full-time since 2008. It could continue to deliver similar performance in the short-term. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Novembers SPAC market review paints a picture of a SPAC market rushing towards the exit with high, and accelerating liquidations, more deal terminations, and almost no new SPAC IPOs. Polestar have confirmed the previously rumoured SPAC merger with GGPI bringing the EV manufacturer to the NASDAQ with a valuation of $20 billion. While its debatable how much of a deal pop well see on close, the fundamentals here are whats most important. A Division of NBCUniversal. Insurance Doesnt Have to Be Boring. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. The Car Design Award was established in 1984 by Fulvio Cinti, founder and editor-in-chief of Auto&Design for more than thirty years. SPACs are publicly listed companies that are raised with the intention of merging with a private company at a later date. GGPI / Polestar gaining momentum on 5-Year HTZ Deal Our Standards: The Thomson Reuters Trust Principles. 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. On the date of publication, Will Ashworth did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Cision Distribution 888-776-0942 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. This is because either your product or service appeals to the top 20% of household incomes or the bottom 20%. However, GGPI stock drifted. Polestar looks to be a nich brand, which makes GGPI stock attractive here. 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. Si quieres personalizar tus opciones, haz clic en Gestionar configuracin de privacidad. 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. Korn Ferrys Head of Board Effectiveness Anthony Goodman talks board evaluations, universal proxies, and more with David Drapkin. GGPI shares starting to regain momentum ahead of merger vote. Moreover, Polestar put together a very good slide deck presentation . However, what he said next did. However, according to Volvo, only 100 were made in the initial year. 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. Cookie Notice (). Two years later, it made a move to electric-powered performance vehicles. Its anyones guess when exactly EV stocks will take off again. Shares of GGPI are down a little over 2% as of this writing. Recently, I also suggested that, That company provides digital twins of properties. Because if it runs as Polestar it will do so premarket. Its beginning dates back to. GGPI Stock Heats Up as Polestar SPAC Merger Closes - Nasdaq We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. , including Geely at a 3.22% weighting. Pending SPAC Mergers - Stock Market MBA 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. Gores has done as good a job as anyone demonstrating that blank-check companies can deliver the goods. A buy under $10 would be an excellent entry point, in my opinion. PSQ Holdings is a marketplace that connects who it describes as "freedom-loving" Americans. A recovery may not happen until the market has absorbed the changes in economic and market conditions. Oklahoma voters go to polls on cannabis measure, while Pennsylvania eyes adult-use bill, U.S. companies embark on record borrowing spree, despite paying highest rates since 2009, Salesforce Reports Financial Results Like a Tech Start-Up, Activist Investors Are Finding the Tables Turned, Sleep Country Canada Up 7.7% as 4Q Profit Gets Hush Brand Adjustment Boost, Daseke Chief Operating Officer Rick Williams to Retire, HP Enterprise Posts Strong Earnings Beat, Lifts Guidance, TD bank may reprice major acquisition of First Horizon, analyst says, Lightspeed Commerce Oper Chief Brandon Nussey Steps Down, Shopping at Kroger can be up to four times cheaper than eating out, CEO says, Broadcom stock moves higher after earnings, forecast beat, Ritchie Bros. Colombier was founded by Omeed Malik, founder and CEO of Farvahar Partners. Im a big believer in Alec Gores, the chairman behind this SPAC. Sign up below to get this incredible offer! EV maker Polestar going public via a SPAC with Gores Guggenheim. Comprehensive research and analytics on every SPAC, sponsor, and deal. Polestar SPAC Merger Makes GGPI Stock a Hot Item - InvestorPlace Instead, get to know the company a little better. Theres even room for more lines. At least 73 SPACs that had planned to go public this year have since been canceled due to deteriorating market conditions. Merging with Colombier Acquisition in $200M Deal. We continue to view GGPI shares as undervalued heading into the merger. Despite being outside the top 10, its a reasonable amount of exposure. Gores Guggenheim Stock News and Forecast: GGPI stock sets - FXStreet Twitter Reports 40% Drop in Revenue and Adjusted Earnings to Investors: WSJ. 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.
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ggpi merger announcement