Valuation remains discounted, in our view, at an implied market cap of $26.1 billion ($12.40 and 2.125B shares outstanding), which implies 3.9x 2023E sales. 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. Polestar SPAC Merger Makes GGPI Stock a Hot Item - InvestorPlace GGPI / Polestar trades higher on HTZ deal . Our Standards: The Thomson Reuters Trust Principles. At writing, its at $9.97 per share, just a penny above its debut price. This relationship gives Polestar access to manufacturing in Chinas as well as facilities in Europe and the U.S. Geely has a 2022 target of 1.65 million vehicles. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. After a bustling 2021, the entire SPAC market has slowed markedly amid theglobal marketdownturn. 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. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. Create your Watchlist to save your favorite quotes on Nasdaq.com. Plus500. Right now investors are paying. Polestar CEO Thomas Ingenlath recently discussed the companys plans with Automotive News. He was right. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. I share my. 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. Featured. Joanna has been analyzing and investing in emerging technologies for over two decades, having led the Technology, Media, and Telecom research at several global investment banks, including Mizuho Securities and Canaccord Genuity. Get in Now on Tiny $3 Forever Battery Stock, Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air. 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. Banjo player, artist, and frittata-maker. In turn, GGPI stock has fallen back to its original SPAC price of $10 per share. Supply chain headwinds, which have resulted in EV makers walking back revenue and delivery targets, have played a role as well. The good news for GGPI stock is that relatively speaking Polestar seems far less likely than peers to be one of those companies. The deal announcement stated it would close before June 30, 2022. The Gravity performance luxury SUV is expected to come to market in North America in 2023. The post Gores Guggenheim Is a Buy, But Consider an Alternative in the Short Term appeared first on InvestorPlace. At least 73 SPACs that had planned to go public this year have since been canceled due to deteriorating market conditions. 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. GGPI Stock Is Worth 20% More Based on Polestar's Excellent Outlook Why Chubb Stock Is a Buy. For the company going public, a SPAC merger serves as an alternative to a traditional IPO. Si no quieres que nosotros ni nuestros socios utilicemos cookies y datos personales para estos propsitos adicionales, haz clic en Rechazar todo. Insurance Doesnt Have to Be Boring. Instead, get to know the company a little better. Theres even room for more lines. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Amidst production hiccups at rivals, Polestar is delivering. 7 Tech Stocks Worth Snatching Up After Their Tumble. Navigating stock market volatility since it all began in 2000. Investors still bullish on EV stocks can purchase shares of Polestar once PSNY stock starts trading tomorrow morning. However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. But there is reason to believe that quality, well-run EV companies like PSNY will survive and thrive in the years ahead. 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. Its beginning dates back to. Initial orders are for the Polestar 2 sedan. Polestar was first established in 1996by Swedish automotive giantVolvo (OTCMKTS:VLVLY). Reddit and its partners use cookies and similar technologies to provide you with a better experience. 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 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. Privacy Notice | 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. At least, based on its success so far, and on future projections. I entered GGPI and will increase my position tomorrow tho. Hertz pushing to be the largest EV rental fleet, adding zero emission models. 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. GGPI Stock Price - Gores Guggenheim, Inc. is a blank check company. Nordstroms off-price Rack stores are struggling. Rubicon Technologies (RBT) CEO Jevan Anderson resigned, Marblegate is merging with itself, and the rest of the days digest. 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 InvestorPlace Media, LLC. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. As a result, I think its chances of survival are much higher than brands such as, On the date of publication, Will Ashworth. However, over a longer timeframe, it could zoom to price levels well above $20 per share. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. 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. The decision is yours to make. Assuming a post-merger tally of approximately 2.15 billion shares, a stock price of $20 on GGPI equates to a $43 billion market cap. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://www.monteverdelaw.com/case/gores-guggenheim-inc, SHAREHOLDER ALERT: The M&A Class Action Firm Announces the Investigation of Adamis Pharmaceuticals Corp. - ADMP, SHAREHOLDER ALERT: The M&A Class Action Firm Announces the Investigation of Ranger Oil Corp. - ROCC. I also said that, at these prices, GGPI stock would seem like a steal in a few years. Special purpose acquisition company (SPAC) Gores Guggenheim (NASDAQ: GGPI) continues to be on schedule with its planned merger with electric vehicle (EV) maker Polestar. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. We continue to like Polestars long term outlook and view the company as an emerging contender in the EV space. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). GGPI Stock Heats Up as Polestar SPAC Merger Closes, Do Not Sell My Personal Information (CA Residents Only). However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. Prior results do not guarantee a similar outcome with respect to any future matter. Will GGPI Stock Rise More After Polestar Merger Date in 2022? And Im not even a total car geek. He lives in Halifax, Nova Scotia. But no matter when exactly the recovery begins, it may be worthwhile to lock down positions before it happens rather than after it happens. Both stocks are thinly traded over the counter. DWACW (Digital World Acquisition) Owner Earnings per Share GGPI - , Reddit Mentions and Sentiments | Memeberg Terminal Therefore, it might make sense to buy now before the merger, rather than afterwards. I think this stock may continue to trade in the low teens until the de-SPAC merger happens in 2022. 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. 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. Availability is expected to begin in Spring 2022 in Europe and late 2022 in North America and Australia. 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. Polestar delivered about 10,000 vehicles globally last year and expects to sell about 290,000 vehicles per year by 2025. Its safe to say this isnt the best market for an EV company to debut. Targeted companies such as Disney and Salesforce are learning how to grab the momentum back from activists, and communicate more effectively. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.