Accumulated other comprehensive incom Privacy Notice | 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. For this, if youre very aggressive, Id suggest taking a half position today and waiting to see if it falls lower. Cuando utilizas nuestros sitios y aplicaciones, usamos. Investors still bullish on EV stocks can purchase shares of Polestar once PSNY stock starts trading tomorrow morning. GGPI Stock Is Worth 20% More Based on Polestar's Excellent Outlook Real-time alerts, yields, red flags, filings, investors, and much more. Cision Distribution 888-776-0942 Once the reverse merger is finalized, shares of Polestar will begin trading on the Nasdaq tomorrow under the PSNY ticker symbol. SPAC Merger. See here for a complete list of exchanges and delays. 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On the date of publication, Will Ashworth did not hold (either directly or indirectly) any positions in the securities mentioned in this article. If you havent bought it, thats great news because you still have time to get in before GGPI takes off post-merger. On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. Strong underwriting, an Asia expansion, and a history of consistent dividend raises make the shares attractive. Objective, data-driven assessments for every public company director and officer. The aim of the Polestar range is to be sportier and to have a stronger focus on the driver. Polestar CEO Thomas Ingenlath recently discussed the companys plans with Automotive News. Okapis Bruce Goldfarb joins the podcast to discuss the new Universal Proxy Rules and what it means for investors and board members. The Gravity performance luxury SUV is expected to come to market in North America in 2023. Polestar looks to be a nich brand, which makes GGPI stock attractive here. Many EV enthusiasts see its focus on performance vehicles as a differentiator. The post Keep an Eye on Gores Guggenheim Stock, as it Gears Up for its EV Merger appeared first on InvestorPlace. In turn, GGPI stock has fallen back to its original SPAC price of $10 per share. 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. Prior results do not guarantee a similar outcome with respect to any future matter. Sign up for free newsletters and get more CNBC delivered to your inbox. 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. GGPI/ Polestar revs up on HTZ Deal. DWAC Slammed by Elon's TWTR Stake. 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 opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Build your trading network; Follow your favorite assets . And Im not the only one. Ive learned in recent years that businesses operating in the middle have less chance of success. Nelzon Peltz and Trian dropped their proxy fight against Walt Disney Co. (DIS) following Disneys cost cutting, reorg, and board appointments. This particular EV play is appealing for two reasons. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. Second, it currently trades at an attractive valuation relative to its prospects. It is free and there is no cost or obligation to you. So naturally, theCEO had a lot to say on the subject. As we move into the merger vote, we think GGPI should be trading closer to $20. Polestar is a Swedish electric vehicle manufacturer backed by Volvo and Volvo's de facto . The post GGPI Stock Heats Up as Polestar SPAC Merger Closes appeared first on InvestorPlace. Under the terms of the agreement, GGPI shareholders will retain less than 6% ownership of the combined company. The Company completed the Public Offering on March 25, 2021 (the "IPO Closing Date"). 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. It was established to help Volvo win the Swedish Touring Car Championship. Still think GGPI is undervalued. 2023 InvestorPlace Media, LLC. Intraday Data provided by FACTSET and subject to terms of use. At least, based on its success so far, and on future projections. 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. Todays announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. 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. Para obtener ms informacin sobre cmo utilizamos tus datos personales, consulta nuestra Poltica de privacidad y Poltica de cookies. This announcement comes alongside ongoing Over-The-Air (OTA) updates that are delivering new features to Polestar 2 owners and pre-empts a future option to purchase a performance software upgrade that adds an extra 67-hp for the dual-motor variant. It doesnt matter if you have $500 in savings or $5 million. This report contains opinions and is provided for informationalpurposes only it does not constitute investment, legal or tax advice. The post Gores Guggenheim Is a Buy, But Consider an Alternative in the Short Term appeared first on InvestorPlace. read more. After the merger, the combined entity. Heres what investors should know moving forward. Again, such middling performance could carry on, before and after the deal closing. This browser is no longer supported at MarketWatch. We use cookies to optimize our website and our service. Aug. 17 2021, Published 3:11 p.m. If you own the shares of the EV maker already, dont worry about its poor performance recently, I wrote in January. 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. 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. The focus was entirely on internal combustion-powered vehicles. Source: Jeppe Gustafsson / Shutterstock.com, CEO Thomas Ingenlath recently discussed the companys plans with, CEO had a lot to say on the subject. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. . Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. "We don't need the capital to build the factory. Its a New Era for Tech Stocks. However, if you own Gores Guggenheim (NASDAQ:GGPI) stock, one sentence by Ingenlath stands out in a good way. 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. Visit a quote page and your recently viewed tickers will be displayed here. Gores Guggenheim went public with its initial public offering (IPO) in March. Still, I wouldnt view this as a reason to dismiss it as an investment opportunity. Availability is expected to begin in Spring 2022 in Europe and late 2022 in North America and Australia. 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. Source: Jeppe Gustafsson / Shutterstock.com. ggpi-10q_20210630.htm The technology is used widely in the. Instead, get to know the company a little better. DWACW (Digital World Acquisition) Owner Earnings per Share (TTM) as of today (March 02, 2023) is . The funding will be used to. Before today, GGPI stock traded at $10.84 per share, down about 7% year-to-date (YTD). 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.
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