A key advantage we have highlighted repeatedly is Polestars existing partnerships / manufacturing relationships. However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. 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. I also said that, at these prices, GGPI stock would seem like a steal in a few years. But there is reason to believe that quality, well-run EV companies like PSNY will survive and thrive in the years ahead. 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. Second, it currently trades at an attractive valuation relative to its prospects. The Polestar deal will be supported. 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. See here for a complete list of exchanges and delays. 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. All quotes delayed a minimum of 15 minutes. In 2013, Polestar launched the Volvo S60 Polestar. So, this all gives you two alternatives to GGPI stock: either Volvo or Geely. Subscriber Agreement & Terms of Use | 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. 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. But its a very different market now, amidst a more tepid outlook for growth stocks. Im a big believer in Alec Gores, the chairman behind this SPAC. Gores Guggenheim went public with its initial public offering (IPO) in March. However, thats an entirely different subject than whether you should buy GGPI at todays prices. GGPI Gores Guggenheim Inc - Ordinary Shares - Class A 1125 N. Charles St, Baltimore, MD 21201. The volatility amongst EV manufacturers has been significant in the second half of 2021. Amidst production hiccups at rivals, Polestar is delivering. Press J to jump to the feed. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. While its debatable how much of a deal pop well see on close, the fundamentals here are whats most important. 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. The deal is expected to close later today. Gores has done as good a job as anyone demonstrating that blank-check companies can deliver the goods. Current equity holders of Polestar, who will roll their entire interest in the combined company, will retain about 94% ownership, it said. API access to institutional grade SPAC database. Theres even room for more lines. Check out our February podcast with CEO Thomas Ingenlath, and detailed analysis of GGPI here. 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. Get in Now on Tiny $3 Forever Battery Stock, Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. March 1, 2023. Source: Jeppe Gustafsson / Shutterstock.com. 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"). PDF Polestar Signs Agreement to be Publicly Listed Through Combination with 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. 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. Its beginning dates back to 1996. It is free and there is no cost or obligation to you. Also, over the years the firm has recovered or secured over a dozen cash common funds for shareholders in mergers & acquisitions class action cases. Moreover, Polestar put together a very good slide deck presentation . Merging with Colombier Acquisition in $200M Deal. First, despite its also-ran reputation, its one of the more promising early stage names in this space. , including Geely at a 3.22% weighting. Polestar has been developing electric vehicles since 2017, the latest of which is a performance roadster. Therefore, it might make sense to buy now before the merger, rather than afterwards. Will Ashworth has written about investments full-time since 2008. Lucid Motors strikes SPAC deal to go public with $24 - TechCrunch 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. Comprehensive research and analytics on every SPAC, sponsor, and deal. Last year, a record 613 SPAC listings occurred on U.S. exchanges, raising a total of $145 billion. Transaction is expected to be completed in the second quarter of 2022. PublicSq. Heres why you should consider them. . Thats well above where it currently trades under the $11.50 level. GGPI / Polestar gaining momentum on 5-Year HTZ Deal A buy under $10 would be an excellent entry point, in my opinion. Polestar was first established in 1996by Swedish automotive giantVolvo (OTCMKTS:VLVLY). SPAC Merger | DealFlow's SPAC News 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. Despite being outside the top 10, its a reasonable amount of exposure. Still think GGPI is undervalued. That company provides digital twins of properties. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. But no matter when exactly the recovery begins, it may be worthwhile to lock down positions before it happens rather than after it happens. 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. URGENT: The M&A Firm is Investigating the Merger of Gores Guggenheim The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Consumers looking for more ways to save money helped Kroger beat profit expectations and provide an upbeat outlook. Shares of Gores Guggenheim pared some earlier gains and were up over 4% in morning trading. Copy and paste multiple symbols separated by spaces. What Is the Best EV Stock to Buy Now? Polestar CEO Thomas Ingenlath recently discussed the companys plans with Automotive News. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The deal announcement stated it would close before June 30, 2022. Salesforce Inc. (CRM) surges after hours following earnings amidst potential activist activity and todays SPAC, IPO, and Exec News. Sign up below to get this incredible offer! Polestar Provides Next Glimpse of Polestar 3 and Reaffirms Growth Plans Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. 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. Source: Jeppe Gustafsson / Shutterstock.com, CEO Thomas Ingenlath recently discussed the companys plans with, CEO had a lot to say on the subject. 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. News, Media, rumors,and general discussion topics are welcome! InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Broadcom continued to produce better results and forecast better near-term sales than Wall Street expects Thursday, and shares rose in extended trading. 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 beginning next year. Gores Guggenheim completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds for the purpose of effecting a merger, capital stock exchange, asset. It will also have a more daring design,, The CEO came out and said Polestar wasnt going to be, As I stated in January, I think GGPI stock soon to be. Ultimately, Tyler felt that waiting could get you a better entry point. The CEO came out and said Polestar wasnt going to be Volvo (OTCMKTS:VLVLY) or some other brand looking for mass appeal. However, what he said next did. 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. GGPI shares starting to regain momentum ahead of merger vote. 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. 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. Polestar itself is a joint venture between Volvo (OTCMKTS:VLVLY) and Geely (OTCMKTS:GELYY). 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. Even as the Polestar deal, which shareholders will vote to approve later this month, is on the verge of closing. I also said that, at these prices, GGPI stock would, The critical distinction about Polestar is that its not a startup. Plus500. 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. Ends. Okapis Bruce Goldfarb joins the podcast to discuss the new Universal Proxy Rules and what it means for investors and board members. On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. Gores Guggenheim and Polestar Announce Effectiveness of | GGPI Stock News 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 contrast between the stock buildup of CCIV/LCID versus GGPI/PSNY is readily apparent. Instead, get to know the company a little better. Stock Market | Daily Penny Alerts Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. did not have (either directly or indirectly) any positions in the securities mentioned in this article. 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. 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. As a result, I think its chances of survival are much higher than brands such as, On the date of publication, Will Ashworth. Of course, shares of many EV companies are down this year, including market leader Tesla (NASDAQ:TSLA). Cuando utilizas nuestros sitios y aplicaciones, usamos. It doesnt matter if you have $500 in savings or $5 million. Electric-car maker Polestar strikes $20-billion deal with Gores - CNBC Ingenlaths comments in Automotive News laid out Polestars three-pronged production plan 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. 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. 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. Objective, data-driven assessments for every public company director and officer. Buy GGPI Before The Merger With Polestar - SeekingAlpha 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. However, of the two, GELYY stock volumes are a little higher. DWACW (Digital World Acquisition) Owner Earnings per Share 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. Because if it runs as Polestar it will do so premarket. 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. Since the Swedish electric vehicle (EV) manufacturer announced its merger. 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 good news for GGPI stock is that relatively speaking Polestar seems far less likely than peers to be one of those companies. These symbols will be available throughout the site during your session. 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. DWAC (Digital World Acquisition) Accumulated other comprehensive income (loss) as of today (March 02, 2023) is $0.00 Mil. It predicts it will rake in $1.6 billion in revenue this year and double that number next year. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. After the merger, the combined entity. That said, I suppose you could also argue that GGPI will move significantly higher once its trading under its new symbol, PSNY. The transaction is expected to close in the first half of the year. If you own the shares of the EV maker already, dont worry about its poor performance recently, I wrote in January. We were listed in theTop 50in the 2018-2020 ISS Securities Class Action Services Report. Real-time alerts, yields, red flags, filings, investors, and much more. Polestar SPAC Merger Makes GGPI Stock a Hot Item - InvestorPlace Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. . Cookie Notice (). It may not be until the supply chain issues are resolved. Featured. PSQ Holdings is a marketplace that connects who it describes as "freedom-loving" Americans. The funding will be used to. On the date of publication, neither LouisNavellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article. 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. 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. Both stocks are thinly traded over the counter. On the date of publication, Will Ashworth. 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. Enthusiasm about the. The higher the price point, the easier it is to pull off. 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. Whats our next move? Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. 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. Rubicon Technologies (RBT) CEO Jevan Anderson resigned, Marblegate is merging with itself, and the rest of the days digest. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. 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. (C) 2021 Monteverde & Associates PC. However, I also said that investors need not rush to buy the SPAC before the merger happens. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. On July 8,. On the date of publication, Will Ashworth did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Excluding employee stock compensation from one measure of earnings make them look more favorable. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. in July and Gores brought $310 million in cash to the deal after redemptions. On 11/4/2021 the company announced a proposed merger with TradeStation Group, Inc, who provides award-winning trading and . Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). mostrar anuncios y contenido personalizados basados en perfiles de inters; medir la efectividad de los anuncios y el contenido personalizados, y. desarrollar y mejorar nuestros productos y servicios. Gores Guggenheim (GGPI): Polestar Merger Should Entice EV Bulls The SPAC merger deal was announced on Sept. 27, where GGPI SPAC agreed to merge with the Swedish private EV car maker Polestar. Defends Financial Benefits of IAA Deal. Illusion versus reality. Keep an Eye on Gores Guggenheim Stock, as it Gears Up for its EV Merger In what stands to be a pivotal year for the future of the market, we recap January.
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