Owner Earnings per Share (TTM) explanation, calculation, his 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. 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. Two years later, it made a move to electric-powered performance vehicles. 7 Tech Stocks Worth Snatching Up After Their Tumble. Although its unclear whether it zooms or sits idle in the near-term, over a longer timeframe it could really take off. 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. Attorney Advertising. That is, when EV companies, in the process of ramping up production, can get their facilities firing on all cylinders. The deal announcement stated it would close before June 30, 2022. It formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. 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. This is because either your product or service appeals to the top 20% of household incomes or the bottom 20%. From the day the Polestar 1 was launched, I have been a fan of the brands designs. Approval of the SPAC deal was widely expected. Still, I wouldnt view this as a reason to dismiss it as an investment opportunity. Polestar was first established in 1996by Swedish automotive giantVolvo (OTCMKTS:VLVLY). 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 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. 2023 CNBC LLC. The vehicles will be produced at its new factory in Casa Grande, Arizona. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Its beginning dates back to 1996. The aim of the Polestar range is to be sportier and to have a stronger focus on the driver. Targeted companies such as Disney and Salesforce are learning how to grab the momentum back from activists, and communicate more effectively. Nevertheless, even as EV stock mania has waned, the EV trend isnt going away. Share of GGPI closed up 12% today on news that the company has a deal . Enthusiasm about the deal, which was announced last fall, has seen a big drop in recent months. Because if it runs as Polestar it will do so premarket. The company, which delivered about 10,000 vehicles last year, said it expects to sell about 290,000 vehicles per year by 2025 and plans to launch three new models by 2024. This report contains opinions and is provided for informationalpurposes only it does not constitute investment, legal or tax advice. However, I also said that investors need not rush to buy the SPAC before the merger happens. Both stocks are thinly traded over the counter. 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. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Sure, its excellent that Polestar plans to be sportier, more focused on the driving experience, than it does on being a luxury ride, but these particular words didnt move me. Prior to merger deal announcements, SPAC stocks tend to stay close to $10 a share. 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 factors still affecting EV stock performance could carry on in the months ahead. The funding will be used to. In turn, GGPI stock has fallen back to its original SPAC price of $10 per share. We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. We continue to view GGPI shares as undervalued heading into the merger. A buy under $10 would be an excellent entry point, in my opinion. 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. It could continue to deliver similar performance in the short-term. And Im not the only one. At $11.20 it's $24 billion. In 2014, it mass-produced both the S60 and V60 for sale in eight markets. The post GGPI Stock Heats Up as Polestar SPAC Merger Closes appeared first on InvestorPlace. 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. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). American Airlines (AAL) announces its new chairman of the board as Gregory D. Smith, the former CEO of Boeing (BA). Instead, get to know the company a little better. This browser is no longer supported at MarketWatch. However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. All rights reserved. However, it was what he said Polestar is and isnt that caught my attention. 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. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. Copyright It was a slower month to kick off the year for SPACs. Polestar is a Swedish electric vehicle manufacturer backed by Volvo and Volvo's de facto . GGPI Stock News. GGPI Stock Price - Gores Guggenheim, Inc. is a blank check company. Shares of the blank-check firm pared earlier gains and were up around 3% before the bell. Ingenlath wants customers that will be loyal to the Polestar brand. Written by The SPAC merger deal was announced on Sept. 27, where GGPI SPAC agreed to merge with the Swedish private EV car maker Polestar. Many EV enthusiasts see its focus on performance vehicles as a differentiator. The opinions expressed in this article are those of the writer, subject to the, Gores Guggenheim Is a Buy, But Consider an Alternative in the Short Term, Biden Hears Oval Office Plea for Alaska Oil Project in Lobbying Frenzy, Apple tops ranking of global companies with the most 'green' revenue, UPDATE 2-North Korea says UN should demand end to S.Korea-US military drills, US Treasury puts cost of outbound investment risk program at $10 million, US Jobs Report and Powell Testimony Take Center Stage: Eco Week. The technical storage or access that is used exclusively for statistical purposes. It was established to help Volvo win the Swedish Touring Car Championship. Anyways we could very well see 20-30$. . If you havent bought it, thats great news because you still have time to get in before GGPI takes off post-merger. (C) 2021 Monteverde & Associates PC. While EV stocks were hot as recently as last fall, thats far from the case today. February 28, 2023. quotes delayed at least 15 minutes, all others at least 20 minutes. Polestar looks to be a nich brand, which makes GGPI stock attractive here. Create an account to follow your favorite communities and start taking part in conversations. But no matter when exactly the recovery begins, it may be worthwhile to lock down positions before it happens rather than after it happens. 2023 InvestorPlace Media, LLC. If youre investing in AI stocks, watch out for these revenue and earnings tricks, After loss against Meta, Lina Khans ability to rein in Big Tech with the FTC is being questioned, Veris Residential and Rogers Stock See Action From Activist Investors, The U.S. housing market is crumbling under the weight of higher mortgage rates and rock-bottom affordability: Prices fell the most in these U.S. states, Am I crazy? After my mother died, my cousin took her designer purse, and my aunt took 8 paintings from her home then things really escalated. 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. 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. On the date of publication, Will Ashworth. The technology is used widely in the. The Company completed the Public Offering on March 25, 2021 (the "IPO Closing Date"). 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. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. GGPI shares have been trading in a steady ~$11 range prior to days announcement (shares are up 8% intraday). Theres even room for more lines. The latest deal will provide a key test of investor appetite for SPAC deals after other such transactions in the electric vehicle sector soured over the past few months. The technology is used widely in the vacation rental industry. This is a collection of 34 auto manufacturers, including Geely at a 3.22% weighting. 5 Penny Cryptos With the Most Potential for Growth, 3 Cream-of-the-Crop Growth Stocks to Buy for 2023, Gores Guggenheim Stock Will Pop Post Merger, But Theres Still Time to Buy. While its debatable how much of a deal pop well see on close, the fundamentals here are whats most important. Moreover, Polestar put together a very good slide deck presentation . The technical storage or access that is used exclusively for anonymous statistical purposes. A Polestar will be more progressive and avant-garde; therefore, it will not be loved by everybody, but it will address its fans, Ingenlath stated. As a result, I think its chances of survival are much higher than brands such as, On the date of publication, Will Ashworth. Polestars listing gives investors access to an interesting opportunity, however. Why Chubb Stock Is a Buy. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. After a bustling 2021, the entire SPAC market has slowed markedly amid the global market. As we move into the merger vote, we think GGPI should be trading closer to $20. In 2015, Volvo acquired Polestars high-performance business. Yet while its made this major progress, its not resulting in a big move for shares. The five-year agreement gives renters an alternative to Tesla (TSLA), which announced a relationship with Hertz in November 2021. 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. 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. The company is an established EV maker outside the U.S. but not headquartered in China. 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. EV maker Polestar going public via a SPAC with Gores Guggenheim. Broadcom continued to produce better results and forecast better near-term sales than Wall Street expects Thursday, and shares rose in extended trading. The critical distinction about Polestar is that its not a startup. 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. 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. The combination of Gores Guggenheim and Polestar is one of the biggest SPAC deals of the year. However, if you own Gores Guggenheim (NASDAQ:GGPI) stock, one sentence by Ingenlath stands out in a good way. Article printed from InvestorPlace Media, https://investorplace.com/2022/03/ggpi-stock/. While the vast majority of these vehicles will be sold in China, the company is also making a push into other Asian markets. 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. In 2013, Polestar launched the Volvo S60 Polestar. GGPI hasn't announced a definitive merger date with Polestar but the two companies expect to complete the business combination in the first half of 2022. Our 3 Top Picks. For aggressive, long-term investors who seek exposure to electric vehicles and dont already own GGPI stock, it is an excellent name to buy. However, thats an entirely different subject than whether you should buy GGPI at todays prices. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. Special purpose acquisition company (SPAC) Gores Guggenheim (NASDAQ: GGPI) continues to be on schedule with its planned merger with electric vehicle (EV) maker Polestar. On the date of publication, Will Ashworth did not hold (either directly or indirectly) any positions in the securities mentioned in this article. , including Geely at a 3.22% weighting. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. Its beginning dates back to. 1125 N. Charles St, Baltimore, MD 21201. Recently, I also suggested that Matterport (NASDAQ:MTTR) was an excellent buy under $20. We want to hear from you. 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. It is free and there is no cost or obligation to you. Silicon Valley Confronts the End of Growth. Instead, it would be a niche producer of EVs. Si no quieres que nosotros ni nuestros socios utilicemos cookies y datos personales para estos propsitos adicionales, haz clic en Rechazar todo. Place to discuss GGPI and Polestar. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. New pill cuts cholesterol, heart attacks, Seniors:Heres an easy wayto cut your risk of a heart attack or stroke by nearly 80%. Source: Jeppe Gustafsson / Shutterstock.com. 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. Featured. The good news for GGPI stock is that relatively speaking Polestar seems far less likely than peers to be one of those companies. Enthusiasm about the. Recently, I also suggested that, That company provides digital twins of properties. 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 investment in public equity, of $250 million from institutional investors. GGPI shares starting to regain momentum ahead of merger vote. 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Type a symbol or company name. Since the Swedish electric vehicle (EV) manufacturer announced its merger with the special purpose acquisition company (SPAC) on Sept. 27, GGPI stock has gained about 14% or so. 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. This particular EV play is appealing for two reasons. However, at one point in mid-November, GGPI stock was trading as high as $16.41. You might even get a better price in the process.. files S-4 for merger with Blade Therapeutics (BBTX). It will also have a more daring design, InsideEVs reported Ingenlaths comments. The focus was entirely on internal combustion-powered vehicles. 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. Now, with volatility likely to continue into 2022, some possible alternatives exist as a short-term solution for risk-averse EV investors. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Most important, the company is well underway with production and revenue generation ($1.6B in 2021 sales). Aug. 17 2021, Published 3:11 p.m. 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. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. However, of the two, GELYY stock volumes are a little higher. Todays announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. Ultimately, Tyler felt that waiting could get you a better entry point. He particularly enjoys creating model portfolios that stand the test of time. Matterport merged with Gores Holdings VI back in July and Gores brought $310 million in cash to the deal after redemptions. 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. Gores Guggenheim went public with its initial public offering (IPO) in March. Cision Distribution 888-776-0942 Its a New Era for Tech Stocks. SPACs are publicly listed companies that are raised with the intention of merging with a private company at a later date. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. A key advantage we have highlighted repeatedly is Polestars existing partnerships / manufacturing relationships. 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 merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. Supply chain headwinds, which have resulted in EV makers walking back revenue and delivery targets, have played a role as well. Salesforce Inc. (CRM) surges after hours following earnings amidst potential activist activity and todays SPAC, IPO, and Exec News. Stock Prodigy Who Found NIO at $2 Says Buy THIS Now, Man Who Called Black Monday: Prepare Now.. 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. That said, unlike LCID, which was a pre-revenue, pre-production company, Polestar is very much established, having met its production target of 29,000 cars in 2021.