ggpi merger announcement

Inc. ("GGPI" or the "Company") (GGPI) a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. DWACW (Digital World Acquisition) Owner Earnings per Share (TTM) as of today (March 02, 2023) is . Polestar said at the Beijing Motor Show last year that it has another model in development called the Precept, which is a larger sedan. 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. In other words, hes saying if you buy a Polestar, youll be getting something unique and special. As you might be aware, post-merger, Polestars existing shareholders will own 94% of the company. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. While EV stocks were hot as recently as last fall, thats far from the case today. I think this stock may continue to trade in the low teens until the de-SPAC merger happens in 2022. Shares of GGPI are down a little over 2% as of this writing. Shares of the blank-check firm pared earlier gains and were up around 3% before the bell. Therefore, it might make sense to buy now before the merger, rather than afterwards. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Under the terms of the agreement, GGPI . Comprehensive research and analytics on every SPAC, sponsor, and deal. However, thats an entirely different subject than whether you should buy GGPI at todays prices. Polestar, founded in 2017 by Volvo Car Group (VOLVb.ST) and China's Zhejiang Geely Holding (GEELY.UL), also counts Hollywood actor Leonardo DiCaprio among its investors. As background, Polestar is jointly owned by Volvo and its parent company Chinese OEM Geely (GELYY). All told, expectations are high for PSNY stock once it begins trading. Electric-car maker Polestar strikes $20-billion deal with Gores - CNBC Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Keep an Eye on Gores Guggenheim Stock, as it Gears Up for its EV Merger The volatility amongst EV manufacturers has been significant in the second half of 2021. Polestar SPAC Merger CONFIRMED! - Is GGPI a buy? - YouTube Thats especially the case with GGPI stock. 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. You should notrely solely upon the research herein forpurposes of transacting securities or other investments, and you areencouraged to conduct your own research and due diligence, and to seekthe advice of a qualifiedsecurities professional beforeyou make anyinvestment. 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. Before today, GGPI stock traded at $10.84 per share, down about 7% year-to-date (YTD). 1125 N. Charles St, Baltimore, MD 21201. quotes delayed at least 15 minutes, all others at least 20 minutes. The Gores Group led by chairman Alec Gores and CEO Mark Stone announced the deal between Gores Guggenheim Inc (NASDAQ: GGPI) and electric vehicle company Polestar. Privacy Notice | Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Twitter Reports 40% Drop in Revenue and Adjusted Earnings to Investors: WSJ. You might even get a better price in the process.. . 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. While the vast majority of these vehicles will be sold in China, the company is also making a push into other Asian markets. Merging with Colombier Acquisition in $200M Deal. Nevertheless, even as EV stock mania has waned, the EV trend isnt going away. Accumulated other comprehensive incom The merger with Polestar via SPAC deal to take it public is finally nearing completion. 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 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. If you havent bought it, thats great news because you still have time to get in before GGPI takes off post-merger. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. The company is an established EV maker outside the U.S. but not headquartered in China. Thats well above where it currently trades under the $11.50 level. Gores has done as good a job as anyone demonstrating that blank-check companies can deliver the goods. The combination of Gores Guggenheim and Polestar is one of the biggest SPAC deals of the year. Do this now. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). I share my. February 28, 2023. Nordstrom says it will end its business in Canada to help shore up profit after reporting weaker-than-expected sales results and forecasts. Now, with volatility likely to continue into 2022, some possible alternatives exist as a short-term solution for risk-averse EV investors. Korn Ferrys Head of Board Effectiveness Anthony Goodman talks board evaluations, universal proxies, and more with David Drapkin. Our 3 Top Picks. 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. However, of the two, GELYY stock volumes are a little higher. A buy under $10 would be an excellent entry point, in my opinion. Availability is expected to begin in Spring 2022 in Europe and late 2022 in North America and Australia. It is free and there is no cost or obligation to you. Todays announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Written by Two years later, it made a move to electric-powered performance vehicles. The post Gores Guggenheim Is a Buy, But Consider an Alternative in the Short Term appeared first on InvestorPlace. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Intraday data delayed at least 15 minutes or per exchange requirements. Plus500. Featured. In December, its currently down almost 16%. Currently, this stock earns a B rating in my Portfolio Grader. GGPI Stock Heats Up as Polestar SPAC Merger Closes, Do Not Sell My Personal Information (CA Residents Only). For aggressive, long-term investors who seek exposure to electric vehicles and dont already own GGPI stock, it is an excellent name to buy. Navigating stock market volatility since it all began in 2000. Gores Guggenheim Stock News and Forecast: GGPI stock sets - FXStreet The focus was entirely on internal combustion-powered vehicles. Still, I wouldnt view this as a reason to dismiss it as an investment opportunity. SPAC Merger. BA sits down with Aria Glasgow, Head of ESG Advisory at Aon, to discuss the intersection ESG and Human Capital and the risk for corporates. In fact, as its already reached the billion dollar mark in terms of sales, calling it early stage may be a misnomer. Approval of the SPAC deal was widely expected. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Under the terms of the agreement, GGPI shareholders will retain less than 6% ownership of the combined company. 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. 1125 N. Charles St, Baltimore, MD 21201. Im a big believer in Alec Gores, the chairman behind this SPAC. 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 stock did rise the day after the shareholder vote announcement, but since then, its drifting lower. 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. The focus was entirely on internal combustion-powered vehicles. 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. In 2014, it mass-produced both the S60 and V60 for sale in eight markets. DWAC (Digital World Acquisition) Accumulated other comprehe We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. Copyright Volvo said on Monday it will make additional equity investments in Polestar of up to $600 million and is expected to hold about 50 percent of the combined company. However, according to Volvo, only 100 were made in the initial year. Lastly, the fact that Ingenlath doesnt want to be something to everyone suggests that he fully understands Polestars target market. However, if you own, for China, South Carolina and Europe. The deal also includes a PIPE, or private investment in public equity, of $250 million from top-tier institutional investors. Then I realized it was just a survey. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. Again, such middling performance could carry on, before and after the deal closing. EQT Buys Majority Stake in South Korean Security Provider SK Shieldus, Nagarro 4Q Ebitda Rose; Backs 2023 Outlook, SFS Group 2022 Sales Rose Boosted By Hoffman Acquisition, Ipsen Completes Acquisition of Albireo Pharma. After many months of wait, the tie-up between Gores Guggenheim and Polestar is nearing completion. As we move into the merger vote, we think GGPI should be trading closer to $20. Barring unforeseen developments, Polestar ought to deliver considerable wealth to its patient shareholders in the future.. In what stands to be a pivotal year for the future of the market, we recap January. The technology is used widely in the vacation rental industry. 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. Last month, Hertz added Teslas mid-size SUV Model Y to its electric vehicle fleet. . Will GGPI Stock Spike After the Polestar Merger Announcement? 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. It was established to help Volvo win the Swedish Touring Car Championship. PSQ Holdings is a marketplace that connects who it describes as "freedom-loving" Americans. First, despite its also-ran reputation, its one of the more promising early stage names in this space. 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. In 2015, Volvo acquired Polestars high-performance business. Polestar have confirmed the previously rumoured SPAC merger with GGPI bringing the EV manufacturer to the NASDAQ with a valuation of $20 billion. Assuming it hits its growth targets, delivering a six-figure amount of vehicles annually, and generating tens of billions in annual sales, within three years. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. Prior results do not guarantee a similar outcome with respect to any future matter. files S-4 for merger with Blade Therapeutics (BBTX). Sign up for free newsletters and get more CNBC delivered to your inbox. Provided by Benzinga Since. 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. Gores has done as good a job as anyone demonstrating that blank-check companies can deliver the goods. Check out our February podcast with CEO Thomas Ingenlath, and detailed analysis of GGPI here. Cuando utilizas nuestros sitios y aplicaciones, usamos. Right now investors are paying. Will Ashworth has written about investments full-time since 2008. Press J to jump to the feed. Rubicon Technologies (RBT) CEO Jevan Anderson resigned, Marblegate is merging with itself, and the rest of the days digest. Hedge funds sells stakes in Trump SPAC firm DWAC after merger news - CNBC Heres what investors should know moving forward. However, at one point in mid-November, GGPI stock was trading as high as $16.41. GGPI shares have been trading in a steady ~$11 range prior to days announcement (shares are up 8% intraday). InvestorPlace->, InvestorPlace - Stock Market News, Stock Advice & Trading Tips. All rights reserved. DWACW (Digital World Acquisition) Owner Earnings per Share The SPAC merger deal was announced on Sept. 27, where GGPI SPAC agreed to merge with the Swedish private EV car maker Polestar. He lives in Halifax, Nova Scotia. Although its unclear whether it zooms or sits idle in the near-term, over a longer timeframe it could really take off. Our Standards: The Thomson Reuters Trust Principles. 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. The industry leader for online information for tax, accounting and finance professionals. The contrast between the stock buildup of CCIV/LCID versus GGPI/PSNY is readily apparent. PublicSq. Press question mark to learn the rest of the keyboard shortcuts. Anywhere in between makes it harder to gain customer loyalty. Its safe to say this isnt the best market for an EV company to debut. 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. Volkswagen's Scout to build $2 bln plant in South Carolina, Mercedes-Benz begins building battery recycling factory in southern Germany, Reporting by Krystal Hu in New York, Nick Carey in London, Sohini Podder and Anirban Sen in Bengaluru; Editing by Peter Cooney, Krishna Chandra Eluri and Shailesh Kuber, Tesla recalls 3,470 Model Y vehicles over loose bolts, Mexico can't match U.S. incentives for proposed Tesla battery plant, minister says, Ford looking at ways to boost gas-powered F-150 production, Rivian stands by 2023 production target despite media report, Nissan and Mexican workers agree to 9% raise at Morelos plant, union says, Media report that UAE considering leaving OPEC not true - sources, France's nuclear output hit by strike at EDF, As space junk threat grows, government and investors seek solutions, U.S. CDC issues advisory after confirmed measles case in Kentucky, Exclusive news, data and analytics for financial market professionals. Still think GGPI is undervalued. Reddit and its partners use cookies and similar technologies to provide you with a better experience. A Division of NBCUniversal. However, what he said next did. Copyright 2023 InvestorPlace Media, LLC. Enthusiasm about the. All quotes delayed a minimum of 15 minutes. 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. American Airlines (AAL) announces its new chairman of the board as Gregory D. Smith, the former CEO of Boeing (BA). What's next for bonds in 2023 after the worst year in history, It broke me: Everyone says you need power of attorney, but nobody tells you how hard it is to use. Share of GGPI closed up 12% today on news that the company has a deal . PDF Polestar Signs Agreement to be Publicly Listed Through Combination with These symbols will be available throughout the site during your session. Broadcom continued to produce better results and forecast better near-term sales than Wall Street expects Thursday, and shares rose in extended trading. Polestar Provides Next Glimpse of Polestar 3 and Reaffirms Growth Plans Im a big believer in Alec Gores, the chairman behind this SPAC. (C) 2021 Monteverde & Associates PC. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. I also said that, at these prices, GGPI stock would seem like a steal in a few years. Yet while its made this major progress, its not resulting in a big move for shares. read more. , including Geely at a 3.22% weighting. 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. The Company has selected December 31 st as its fiscal year-end. Place to discuss GGPI and Polestar. A key advantage we have highlighted repeatedly is Polestars existing partnerships / manufacturing relationships. That company provides digital twins of properties. I also said that, at these prices, GGPI stock would, The critical distinction about Polestar is that its not a startup. 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. 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. Matterport merged with Gores Holdings VI back in July and Gores brought $310 million in cash to the deal after redemptions. 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. Polestar looks to be a nich brand, which makes GGPI stock attractive here. Moreover, Polestar put together a very good slide deck presentation . Shares of Gores Guggenheim pared some earlier gains and were up over 4% in morning trading. At the end of November, I argued that GGPI stock was a better buy for aggressive investors than Rivian (NASDAQ:RIVN) in the long term. New pill cuts cholesterol, heart attacks, Seniors:Heres an easy wayto cut your risk of a heart attack or stroke by nearly 80%. However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. Lifes a beach for this Florida FIRE couple, Cant take statins? 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. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. 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. Yet if youve done your research, and are bullish on the future prospects of this promising EV play, consider GGPI stock a buy. At least, based on its success so far, and on future projections. Gores Guggenheim (GGPI): Polestar Merger Should Entice EV Bulls Many EV enthusiasts see its focus on performance vehicles as a differentiator. Targeted companies such as Disney and Salesforce are learning how to grab the momentum back from activists, and communicate more effectively. Contact:Juan E. Monteverde, Esq.MONTEVERDE & ASSOCIATES PCThe Empire State Building350 Fifth Ave. Suite 4405New York, NY 10118United States of America[emailprotected]Tel: (212) 971-1341. This browser is no longer supported at MarketWatch. Sign up below to get this incredible offer! In addition to the Geely relationship, Polestar has access to Volvos manufacturing infrastructure. 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. What happens to my Social Security benefit if my husband dies? Also, dont base a decision to buy or not just on a surface level view of the company. For this, if youre very aggressive, Id suggest taking a half position today and waiting to see if it falls lower. 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. The post GGPI Stock Heats Up as Polestar SPAC Merger Closes appeared first on InvestorPlace. Polestar, backed by Volvo Car Group and affiliates of Geely Chairman Eric Li, also counts Hollywood actor Leonardo DiCaprio among its investors. Create an account to follow your favorite communities and start taking part in conversations. This is because either your product or service appeals to the top 20% of household incomes or the bottom 20%. 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. As you might be aware, post-merger, Polestars existing shareholders will own, . Anticipation on GGPI/Polestar merger. He has also been selected by Martindale-Hubbell as a 2017-2021 Top Rated Lawyer. I entered GGPI and will increase my position tomorrow tho. It predicts it will rake in $1.6 billion in revenue this year and double that number next year. Data is a real-time snapshot *Data is delayed at least 15 minutes. However, GGPI stock drifted. 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. Of course, shares of many EV companies are down this year, including market leader Tesla (NASDAQ:TSLA). And Im not even a total car geek. Nelzon Peltz and Trian dropped their proxy fight against Walt Disney Co. (DIS) following Disneys cost cutting, reorg, and board appointments. Both stocks are thinly traded over the counter. 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. Attorney Advertising. Salesforce Inc. (CRM) surges after hours following earnings amidst potential activist activity and todays SPAC, IPO, and Exec News. On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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