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. It may not be until the supply chain issues are resolved. The Car Design Award was established in 1984 by Fulvio Cinti, founder and editor-in-chief of Auto&Design for more than thirty years. The enterprise hardware company saw surprising strength in the January quarter in computing and networking hardware. GGPI Stock Price - Gores Guggenheim, Inc. is a blank check company. Now, with volatility likely to continue into 2022, some possible alternatives exist as a short-term solution for risk-averse EV investors. For this, if youre very aggressive, Id suggest taking a half position today and waiting to see if it falls lower. Transaction is expected to be completed in the second quarter of 2022. 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. The technology is used widely in the vacation rental industry. The fact that the company is moving close to 30,000 units this. NEW YORK, Nov. 29, 2021 /PRNewswire/ -- Juan Monteverde, founder and managing partner of the firm Monteverde & Associates PC ("M&A Firm"), a national securities firm ratedTop 50in the 2018-2020 ISS Securities Class Action Services Report and headquartered at theEmpire State Buildingin New York City, is investigatingGores Guggenheim. After many months of wait, the tie-up between Gores Guggenheim and Polestar is nearing completion. With that in mind, I continue to believe in Alec Gores real-world record of success with SPACs. Once the reverse merger is finalized, shares of Polestar will begin trading on the Nasdaq tomorrow under the PSNY ticker symbol. The contrast between the stock buildup of CCIV/LCID versus GGPI/PSNY is readily apparent. 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. Yet if youve done your research, and are bullish on the future prospects of this promising EV play, consider GGPI stock a buy. So, this all gives you two alternatives to GGPI stock: either Volvo or Geely. I recommend taking an in-depth look at this company, its lineup of mass affluent and luxury EVs, and its game plan to take on Tesla (NASDAQ:TSLA), Lucid (NASDAQ:LCID), and the incumbent automakers looking to grab a piece of the electric vehicle market. SPACs are publicly listed companies that are raised with the intention of merging with a private company at a later date. About the Car Design Award. The CEO came out and said Polestar wasnt going to be Volvo (OTCMKTS:VLVLY) or some other brand looking for mass appeal. The vehicles will be produced at its new factory in Casa Grande, Arizona. Ends. If you own the shares of the EV maker already, dont worry about its poor performance recently, I wrote in January. Enthusiasm about the deal, which was announced last fall, has seen a big drop in recent months. The good news for GGPI stock is that relatively speaking Polestar seems far less likely than peers to be one of those companies. 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 SPAC merger deal was announced on Sept. 27, where GGPI SPAC agreed to merge with the Swedish private EV car maker Polestar. Featured. DWACW (Digital World Acquisition) Owner Earnings per Share (TTM) as of today (March 02, 2023) is . After a bustling 2021, the entire SPAC market has slowed markedly amid the global market. Gores Guggenheim completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds . All Rights Reserved. Market is a lot different now versus CCIV/LCID times. The partnership with Polestar builds on Hertzs announcement last October to offer its customers the largest EV rental fleet in North America and one of the largest in the world. When typing in this field, a list of search results will appear and be automatically updated as you type. Insurance Doesnt Have to Be Boring. The factors still affecting EV stock performance could carry on in the months ahead. API access to institutional grade SPAC database. Right now investors are paying. We want to hear from you. 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. Polestar has been developing electric vehicles since 2017, the latest of which is a performance roadster. Korn Ferrys Head of Board Effectiveness Anthony Goodman talks board evaluations, universal proxies, and more with David Drapkin. This browser is no longer supported at MarketWatch. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Don't take it as financial . Anticipation on GGPI/Polestar merger. GGPI shares have been trading in a steady ~$11 range prior to days announcement (shares are up 8% intraday). The reverse merger between GGPI and Polestar is one of the few large SPAC deals to happen this year. Banjo player, artist, and frittata-maker. A recovery may not happen until the market has absorbed the changes in economic and market conditions. The combination of Gores Guggenheim and Polestar is one of the biggest SPAC deals of the year. Prior results do not guarantee a similar outcome with respect to any future matter. Plus500. A buy under $10 would be an excellent entry point, in my opinion. Shares of GGPI are down a little over 2% as of this writing. 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. proporcionarte nuestros sitios y aplicaciones; autenticar usuarios, aplicar medidas de seguridad y evitar el spam y los abusos, y. medir el uso que haces de nuestros sitios y aplicaciones. I share my. I entered GGPI and will increase my position tomorrow tho. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Copyright 2023 InvestorPlace Media, LLC. This particular EV play is appealing for two reasons. GGPI Stock News. Yet while its made this major progress, its not resulting in a big move for shares. Comprehensive research and analytics on every SPAC, sponsor, and deal. Gores Guggenheim went public with its initial public offering (IPO) in March. 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. GGPI shares have been trading in a steady ~$11 range prior to day's announcement (shares are up 8% intraday). 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. For aggressive, long-term investors who seek exposure to electric vehicles and dont already own GGPI stock, it is an excellent name to buy. At $11.20 it's $24 billion. Is GGPI a buy now in 2021? Source: Jeppe Gustafsson / Shutterstock.com, CEO Thomas Ingenlath recently discussed the companys plans with, CEO had a lot to say on the subject. But no matter when exactly the recovery begins, it may be worthwhile to lock down positions before it happens rather than after it happens. company, and Gores Guggenheim, Inc. ("Gores Guggenheim") (Nasdaq: GGPI, GGPIW and GGPIU), a special purpose acquisition company ("SPAC") formed by affiliates of The Gores Group and Guggenheim Capital, LLC, announced today that they have entered into a definitive business combination agreement (the "Business Combination Agreement"). As reference, LCID, which is still in early production, trades at ~10x 2023E sales. Copyright However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. It predicts it will rake in $1.6 billion in revenue this year and double that number next year. We can put the money raised into developing the technology and the market," Thomas Ingenlath, Polestar's chief executive, said in an interview. On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. Both stocks are thinly traded over the counter. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. The transaction is expected to close in the first half of the year. All quotes are in local exchange time. And Im not even a total car geek. 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. Get this delivered to your inbox, and more info about our products and services. 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. 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. in July and Gores brought $310 million in cash to the deal after redemptions. LOS ANGELES & GOTHENBURG, Sweden, June 21, 2022 -- ( BUSINESS WIRE )--Gores Guggenheim, Inc. ("Gores Guggenheim" or the "Company") (NASDAQ: GGPI, GGPIU and GGPIW), a special purpose acquisition. An alternative to Tesla. Before today, GGPI stock traded at $10.84 per share, down about 7% year-to-date (YTD). For the company going public, a SPAC merger serves as an alternative to a traditional IPO. The stock did rise the day after the shareholder vote announcement, but since then, its drifting lower.
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