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. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. 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. 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. Place to discuss GGPI and Polestar. 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. With all that said, your question is between taking the risk of GGPI tanking after merger vs maybe missing out a huge chunk of gains. Ingenlath wants customers that will be loyal to the Polestar brand. 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. Post-merger, itll have a market capitalization of $21.8 billion. It formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. At least 73 SPACs that had planned to go public this year have since been canceled due to deteriorating market conditions. Merging with Colombier Acquisition in $200M Deal. Heres what investors should know moving forward. Not bad, given that, if it grows as expected, itll generate $17.6 billion in annual sales by 2025. Source: Jeppe Gustafsson / Shutterstock.com, CEO Thomas Ingenlath recently discussed the companys plans with, CEO had a lot to say on the subject. 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. Market is a lot different now versus CCIV/LCID times. Additionally, a possible third alternative here is to buy the First Trust Nasdaq Global Auto Index Fund (NASDAQ:CARZ). Polestar touts an asset-light business model as a key differentiator by having existing productions lines provided by backers Volvo and Geely, so it can focus on investing in research. Deal Announcement for ISAA /HYPEBEAST . Targeted companies such as Disney and Salesforce are learning how to grab the momentum back from activists, and communicate more effectively. The deal announcement stated it would close before June 30, 2022. Do this now. 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. ET It has been over a month since the rumor started floating that the SPAC Gores Guggenheim (GGPI) could merge with premium EV manufacturer Polestar. Written by Polestar have confirmed the previously rumoured SPAC merger with GGPI bringing the EV manufacturer to the NASDAQ with a valuation of $20 billion. The aim of the Polestar range is to be sportier and to have a stronger focus on the driver. For the company going public, a SPAC merger serves as an alternative to a traditional IPO. 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. GGPI Stock News. 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. GGPI/ Polestar revs up on HTZ Deal. DWAC Slammed by Elon's TWTR Stake. 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. Despite being outside the top 10, its a reasonable amount of exposure. Investors also like the fact a global automotive giant backs Polestar. It was established to help Volvo win the Swedish Touring Car Championship. Polestar looks to be a nich brand, which makes GGPI stock attractive here. read more. For this, if youre very aggressive, Id suggest taking a half position today and waiting to see if it falls lower. Once the reverse merger is finalized, shares of Polestar will begin trading on the Nasdaq tomorrow under the PSNY ticker symbol. Real-time alerts, yields, red flags, filings, investors, and much more. The critical distinction about Polestar is that its not a startup. We earn $400,000 and spend beyond our means. He particularly enjoys creating model portfolios that stand the test of time. Gores has done as good a job as anyone demonstrating that blank-check companies can deliver the goods. GGPI Gores Guggenheim Inc - Ordinary Shares - Class A The Car Design Award was established in 1984 by Fulvio Cinti, founder and editor-in-chief of Auto&Design for more than thirty years. Get in Now on Tiny $3 Forever Battery Stock, Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air. Polestar said at the Beijing Motor Show last year that it has another model in development called the Precept, which is a larger sedan. 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. Today's announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. At least, based on its success so far, and on future projections. On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. Nelzon Peltz and Trian dropped their proxy fight against Walt Disney Co. (DIS) following Disneys cost cutting, reorg, and board appointments. The factors still affecting EV stock performance could carry on in the months ahead. It could continue to deliver similar performance in the short-term. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. On 11/4/2021 the company announced a proposed merger with TradeStation Group, Inc, who provides award-winning trading and . Before today, GGPI stock traded at $10.84 per share, down about 7% year-to-date (YTD). The reverse merger between GGPI and Polestar is one of the few large SPAC deals to happen this year. Broadcom continued to produce better results and forecast better near-term sales than Wall Street expects Thursday, and shares rose in extended trading. Data is a real-time snapshot *Data is delayed at least 15 minutes. Amidst production hiccups at rivals, Polestar is delivering. Both stocks are thinly traded over the counter. The deal also includes a PIPE, or private investment in public equity, of $250 million from top-tier institutional investors. Join the Conversation! It will also have a more daring design, InsideEVs reported Ingenlaths comments. Even as the Polestar deal, which shareholders will vote to approve later this month, is on the verge of closing. Prior to merger deal announcements, SPAC stocks tend to stay close to $10 a share. Im a big believer in Alec Gores, the chairman behind this SPAC. Defends Financial Benefits of IAA Deal. News, Media, rumors,and general discussion topics are welcome! American Airlines (AAL) announces its new chairman of the board as Gregory D. Smith, the former CEO of Boeing (BA). EV maker Polestar strikes $20-bln deal with Gores Guggenheim SPAC Of course, shares of many EV companies are down this year, including market leader Tesla (NASDAQ:TSLA). Under the terms of the agreement, GGPI . Polestar, the Global Electric Performance Car Company, Signs Agreement An alternative to Tesla. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Polestar SPAC Merger CONFIRMED! - Is GGPI a buy? - YouTube Special purpose acquisition company (SPAC) Gores Guggenheim (NASDAQ:GGPI) continues to be on schedule with its planned merger with electric vehicle (EV) maker Polestar. It doesnt matter if you have $500 in savings or $5 million. As we move into the merger vote, we think GGPI should be trading closer to $20. Right now investors are paying. To the extent anyof the information contained herein may bedeemed to be investment advice, such information is impersonal and nottailored to the investment needs of any specific person. 1125 N. Charles St, Baltimore, MD 21201. 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. Thats especially the case with GGPI stock. URGENT: The M&A Firm is Investigating the Merger of Gores Guggenheim 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. For the company going public, a SPAC merger serves as an alternative to a traditional IPO. Will Ashworth has written about investments full-time since 2008. 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. At least two hedge funds sold their stakes in Digital World Acquisition Corp. after that SPAC firm announced plans to merge with former President Donald Trump 's planned social media platform.. Therefore, it might make sense to buy now before the merger, rather than afterwards. Polestar itself is a joint venture between Volvo (OTCMKTS:VLVLY) and Geely (OTCMKTS:GELYY). This is because either your product or service appeals to the top 20% of household incomes or the bottom 20%. As you might be aware, post-merger, Polestars existing shareholders will own, . He was right. 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. 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. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. We continue to like Polestars long term outlook and view the company as an emerging contender in the EV space. Create an account to follow your favorite communities and start taking part in conversations. Lorem ipsum dolor sit amet, consectetur adipiscing elit. He lives in Halifax, Nova Scotia. Polestar Is The 9th SPAC Merger For The Gores Group: Here's How The The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. Copyright Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). After many months of wait, the tie-up between Gores Guggenheim and Polestar is nearing completion. For the best MarketWatch.com experience, please update to a modern browser. SPACs are publicly listed companies that are raised with the intention of merging with a private company at a later date. I also said that, at these prices, GGPI stock would, The critical distinction about Polestar is that its not a startup. 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. Recently, I also suggested that Matterport (NASDAQ:MTTR) was an excellent buy under $20. Bruce Ogilvie and Jeff Walker discuss Alliance Entertainment going public via Adara Acquisition Corp. (ADRA). We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. After a bustling 2021, the entire SPAC market has slowed markedly amid the global market. 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. Special purpose acquisition company (SPAC) Gores Guggenheim (NASDAQ: GGPI) continues to be on schedule with its planned merger with electric vehicle (EV) maker Polestar. Barring unforeseen developments, Polestar ought to deliver considerable wealth to its patient shareholders in the future.. Polestar / Gores Guggenheim Inc.(GGPI) made a splash this morning, announcing a partnership with Hertz (HTZ) that includes purchasing up to 65,000 electric vehicles (EVs) over five years. Polestar, backed by Volvo Car Group and affiliates of Geely Chairman Eric Li, also counts Hollywood actor Leonardo DiCaprio among its investors. Gores Guggenheim completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds . The deal also includes a PIPE, or private investment in public equity, of $250 million from top-tier institutional investors. 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. Si no quieres que nosotros ni nuestros socios utilicemos cookies y datos personales para estos propsitos adicionales, haz clic en Rechazar todo. Post merger, the combined company will be named Polestar Automotive Holding UK Ltd. and will trade under the symbol "PSNY" on the Nasdaq. Its a New Era for Tech Stocks. Merger : GGPI - Reddit GGPI / Polestar trades higher on HTZ deal . 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. However, at one point in mid-November, GGPI stock was trading as high as $16.41. DWACW (Digital World Acquisition) Owner Earnings per Share The premium EV maker's offering includes two models: a hybrid car known as Polestar 1 and a fully electric Polestar 2. As the deal approaches a close, GGPI shares have formed a solid base of support. 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. So, this all gives you two alternatives to GGPI stock: either Volvo or Geely. 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. 1125 N. Charles St, Baltimore, MD 21201. We were listed in theTop 50in the 2018-2020 ISS Securities Class Action Services Report. Gores Guggenheim went public with its initial public offering (IPO) in March. From the day the Polestar 1 was launched, I have been a fan of the brands designs. The reverse merger between GGPI and Polestar is one of the few large SPAC deals to happen this year. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. Again, such middling performance could carry on, before and after the deal closing. The volatility amongst EV manufacturers has been significant in the second half of 2021. Okapis Bruce Goldfarb joins the podcast to discuss the new Universal Proxy Rules and what it means for investors and board members. 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. Article printed from InvestorPlace Media, https://investorplace.com/2022/03/ggpi-stock/. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Accumulated other comprehensive incom 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. As a result, I think its chances of survival are much higher than brands such as, On the date of publication, Will Ashworth. Critics of the practice include Warren Buffett. 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. GGPI Stock Is Worth 20% More Based on Polestar's Excellent Outlook The EV just looks nice. February 28, 2023. 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. Instead, it would be a niche producer of EVs. You might even get a better price in the process.. Our Standards: The Thomson Reuters Trust Principles. The technical storage or access that is used exclusively for statistical purposes. The transaction is expected to close in the first half of the year. Sign up for free newsletters and get more CNBC delivered to your inbox. A Division of NBCUniversal. Matterport merged with Gores Holdings VI back in July and Gores brought $310 million in cash to the deal after redemptions. Shares of GGPI are down a little over 2% as of this writing. Boardroom Alpha does not accept any liability for any direct,indirector consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed. Stock Prodigy Who Found NIO at $2 Says Buy THIS Now, Man Who Called Black Monday: Prepare Now.. 2023 InvestorPlace Media, LLC. Banjo player, artist, and frittata-maker. Todays announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. Buy GGPI Before The Merger With Polestar - SeekingAlpha Got a confidential news tip? As you might be aware, post-merger, Polestars existing shareholders will own 94% of the company. Get this delivered to your inbox, and more info about our products and services. Heres why you should consider them. 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. The Company will not generate any operating revenues until after the completion of its Business Combination, at the earliest. 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. Subscriber Agreement & Terms of Use | However, if you own, for China, South Carolina and Europe. 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. Our 3 Top Picks. Owner Earnings per Share (TTM) explanation, calculation, his Anywhere in between makes it harder to gain customer loyalty. For aggressive, long-term investors who seek exposure to electric vehicles and dont already own GGPI stock, it is an excellent name to buy. Click here for more information: https://www.monteverdelaw.com/case/gores-guggenheim-inc. The company is headquartered in Sweden but manufactures its EVs in China. Rubicon Technologies (RBT) CEO Jevan Anderson resigned, Marblegate is merging with itself, and the rest of the days digest. The good news for GGPI stock is that relatively speaking Polestar seems far less likely than peers to be one of those companies. PSQ Holdings is a marketplace that connects who it describes as "freedom-loving" Americans. It was established to help Volvo win the Swedish Touring Car Championship. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. The decision is yours to make. The contrast between the stock buildup of CCIV/LCID versus GGPI/PSNY is readily apparent. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. Twitter Reports 40% Drop in Revenue and Adjusted Earnings to Investors: WSJ. , including Geely at a 3.22% weighting. On the date of publication, Joel Baglole did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The Company has selected December 31 st as its fiscal year-end. Although its unclear whether it zooms or sits idle in the near-term, over a longer timeframe it could really take off. 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. 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. 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. Yet while its made this major progress, its not resulting in a big move for shares. However, over a longer timeframe, it could zoom to price levels well above $20 per share. The industry leader for online information for tax, accounting and finance professionals. 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. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. The technology is used widely in the vacation rental industry. Gores Guggenheim believes the deal will raise about $850 million in gross proceeds. GGPI: Gores Guggenheim, Inc. Class A: $0: 10/25/2021: On 9/27/2021 the company announced a pending merger with Polestar Automotive, a global pure play, premium electric vehicle ("EV") company based in Sweden. First, despite its also-ran reputation, its one of the more promising early stage names in this space. Consumers looking for more ways to save money helped Kroger beat profit expectations and provide an upbeat outlook. The merger with Polestar via SPAC deal to take it public is finally nearing completion. Cuando utilizas nuestros sitios y aplicaciones, usamos. 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. Intraday data delayed at least 15 minutes or per exchange requirements. I entered GGPI and will increase my position tomorrow tho.

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