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And Im not the only one. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Will GGPI Stock Spike After the Polestar Merger Announcement? It is free and there is no cost or obligation to you. Get in Now on Tiny $3 Forever Battery Stock, Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air. On 11/4/2021 the company announced a proposed merger with TradeStation Group, Inc, who provides award-winning trading and . 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. Theres even room for more lines. Based on a $49K starting price, the deal is valued at ~$3.2B. Heres what investors should know moving forward. Im a big believer in Alec Gores, the chairman behind this SPAC. For 2022 and 2023, Polestar has guided to $3.2 B and $6.7B in sales, respectively. 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. 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 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. Illusion versus reality. 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. Once the deal is completed, Polestar will trade under the ticker symbol PSNY on the Nasdaq. Establishing itself in the European market, it could see tremendous growth as it enters the U.S. market. Post-merger, itll have a market capitalization of $21.8 billion. In 2014, it mass-produced both the S60 and V60 for sale in eight markets. Aug. 17 2021, Published 3:11 p.m. 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. URGENT: The M&A Firm is Investigating the Merger of Gores Guggenheim I think this stock may continue to trade in the low teens until the de-SPAC merger happens in 2022. Special purpose acquisition company (SPAC) Gores Guggenheim (NASDAQ: GGPI) continues to be on schedule with its planned merger with electric vehicle (EV) maker Polestar. However, of the two, GELYY stock volumes are a little higher. We continue to like Polestars long term outlook and view the company as an emerging contender in the EV space. Check out our February podcast with CEO Thomas Ingenlath, and detailed analysis of GGPI here. Gores Guggenheim (GGPI): Polestar Merger Should Entice EV Bulls Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Polestar is unique in that while its not the flashiest vehicle, the companys main selling proposition is to make reliable cars without gimmicks. Will Ashworth has written about investments full-time since 2008. The enterprise hardware company saw surprising strength in the January quarter in computing and networking hardware. Shares of GGPI are down a little over 2% as of this writing. 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. Two years later, it made a move to electric-powered performance vehicles. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. . If you own the shares of the EV maker already, dont worry about its poor performance recently, I wrote in January. Since the Swedish electric vehicle (EV) manufacturer announced its merger. Amidst production hiccups at rivals, Polestar is delivering. Copyright In 2013, Polestar launched the Volvo S60 Polestar. In 2015, Volvo acquired Polestars high-performance business. Will Ashworth has written about investments full-time since 2008. This is a collection of 34 auto manufacturers, including Geely at a 3.22% weighting. The focus was entirely on internal combustion-powered vehicles. However, I also said that investors need not rush to buy the SPAC before the merger happens. Gores Guggenheim Stock News and Forecast: GGPI stock sets - FXStreet As a result, I think its chances of survival are much higher than brands such as Lucid (NASDAQ:LCID) and Rivian (NASDAQ:RIVN). 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. 1125 N. Charles St, Baltimore, MD 21201. 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. The premium EV maker's offering includes two models: a hybrid car known as Polestar 1 and a fully electric Polestar 2. 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. After a bustling 2021, the entire SPAC market has slowed markedly amid theglobal marketdownturn. An alternative to Tesla. Banking giant TD still wants to buy First Horizon a year after megadeal was announced, but the purchase price may drop, given lower sector valuations. 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. Merger : GGPI - Reddit But no matter when exactly the recovery begins, it may be worthwhile to lock down positions before it happens rather than after it happens. So, this all gives you two alternatives to GGPI stock: either Volvo or Geely. Moreover, Polestar put together a very good slide deck presentation . Cuando utilizas nuestros sitios y aplicaciones, usamos. Both stocks are thinly traded over the counter. Gores Guggenheim went public with its initial public offering (IPO) in March. And Im not even a total car geek. did not have (either directly or indirectly) any positions in the securities mentioned in this article. The technology is used widely in the. If you havent bought it, thats great news because you still have time to get in before GGPI takes off post-merger. Mergers and Acquisitions Lightspeed Commerce Oper Chief Brandon Nussey Steps Down Shopping at Kroger can be up to four times cheaper than eating out, CEO says ACI 0.00% Broadcom stock moves. A key advantage we have highlighted repeatedly is Polestars existing partnerships / manufacturing relationships. However, what he said next did. Ends. A Division of NBCUniversal. As we move into the merger vote, we think GGPI should be trading closer to $20. In addition to the Geely relationship, Polestar has access to Volvos manufacturing infrastructure. Right now investors are paying. However, over a longer timeframe, it could zoom to price levels well above $20 per share. 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. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. The reverse merger between GGPI and Polestar is one of the few large SPAC deals to happen this year. We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. Barring unforeseen developments, Polestar ought to deliver considerable wealth to its patient shareholders in the future.. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Keep an Eye on Gores Guggenheim Stock, as it Gears Up for its EV Merger The transaction is expected to close in the first half of the year. The decision is yours to make. He lives in Halifax, Nova Scotia. Consumers looking for more ways to save money helped Kroger beat profit expectations and provide an upbeat outlook. Additionally, a possible third alternative here is to buy the First Trust Nasdaq Global Auto Index Fund (NASDAQ:CARZ). 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. In other words, hes saying if you buy a Polestar, youll be getting something unique and special. However, it was what he said Polestar is and isnt that caught my attention. The merger with Polestar via SPAC deal to take it public is finally nearing completion. He has also been selected by Martindale-Hubbell as a 2017-2021 Top Rated Lawyer. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. Cision Distribution 888-776-0942 However, GGPI stock drifted. Sept 27 (Reuters) - 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. Once the reverse merger is finalized, shares of Polestar will begin trading on the Nasdaq tomorrow under the PSNY ticker symbol. For Hertz, the partnership builds on the companys ongoing commitment to lead in electrification and shared mobility. 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. Under the terms of the agreement, GGPI shareholders will retain less than 6% ownership of the combined company. SPAC Merger | DealFlow's SPAC News The SPAC merger deal was announced on Sept. 27, where GGPI SPAC agreed to merge with the Swedish private EV car maker Polestar. 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. Many EV enthusiasts see its focus on performance vehicles as a differentiator. The technology is used widely in the vacation rental industry. 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. GGPI / Polestar trades higher on HTZ deal . Instead, get to know the company a little better. Prior results do not guarantee a similar outcome with respect to any future matter. 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. DWAC (Digital World Acquisition) Accumulated other comprehe Deal Announcement for ISAA /HYPEBEAST . InvestorPlace - Stock Market News, Stock Advice & Trading Tips. It was established to help Volvo win the Swedish Touring Car Championship. Polestar was first established in 1996by Swedish automotive giantVolvo (OTCMKTS:VLVLY). The deal is expected to close later today. 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. The vehicles will be produced at its new factory in Casa Grande, Arizona. Lastly, the fact that Ingenlath doesnt want to be something to everyone suggests that he fully understands Polestars target market. from 8 AM - 9 PM ET. Accumulated other comprehensive incom Gores Guggenheim and Polestar Announce Effectiveness of | GGPI Stock News Para obtener ms informacin sobre cmo utilizamos tus datos personales, consulta nuestra Poltica de privacidad y Poltica de cookies. At the time of this writing, the stock is down 2.83% on the day, closing in on $11. Currently, this stock earns a B rating in my Portfolio Grader. Build your trading network; Follow your favorite assets . What Is the Best EV Stock to Buy Now? GGPI Stock Is Worth 20% More Based on Polestar's Excellent Outlook Cookie Notice (). Anticipation on GGPI/Polestar merger. Enthusiasm about the deal, which was announced last fall, has seen a big drop in recent months. DWACW (Digital World Acquisition) Owner Earnings per Share 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. Ultimately, Tyler felt that waiting could get you a better entry point. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The stock did rise the day after the shareholder vote announcement, but since then, its drifting lower. However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. The critical distinction about Polestar is that its not a startup. 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. The Company has selected December 31 st as its fiscal year-end. Salesforce Inc. (CRM) surges after hours following earnings amidst potential activist activity and todays SPAC, IPO, and Exec News. On July 8,. After many months of wait, the tie-up between Gores Guggenheim and Polestar is nearing completion. We continue to view GGPI shares as undervalued heading into the merger. All rights reserved. Li-Cycle (LICY) CEO Ajay Kochhar joins Know Who Drives Return to discuss lithium ion battery recycle in the latest podcast episode. Polestar intends to list on the Nasdaq in a proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), which is expected to close in June 2022. The good news for GGPI stock is that relatively speaking Polestar seems far less likely than peers to be one of those companies. Polestar is a Swedish electric vehicle manufacturer backed by Volvo and Volvo's de facto . Polestar, the Global Electric Performance Car Company, Signs Agreement
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