ggpi merger announcement ggpi merger announcement

quotes delayed at least 15 minutes, all others at least 20 minutes. Instead, get to know the company a little better. Im a big believer in Alec Gores, the chairman behind this SPAC. Enthusiasm about the deal, which was announced last fall, has seen a big drop in recent months. Market is a lot different now versus CCIV/LCID times. 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. That company provides digital twins of properties. Current equity holders of Polestar, who will roll their entire interest in the combined company, will retain about 94% ownership, it said. 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.. However, if you own, for China, South Carolina and Europe. 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. Its anyones guess when exactly EV stocks will take off again. As we move into the merger vote, we think GGPI should be trading closer to $20. Plus500. Click here for more information: https://www.monteverdelaw.com/case/gores-guggenheim-inc. Todays announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Cision Distribution 888-776-0942 Ive learned in recent years that businesses operating in the middle have less chance of success. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Polestar is unique in that while its not the flashiest vehicle, the companys main selling proposition is to make reliable cars without gimmicks. Despite being outside the top 10, its a reasonable amount of exposure. What happens to my Social Security benefit if my husband dies? For the best MarketWatch.com experience, please update to a modern browser. The vehicles will be produced at its new factory in Casa Grande, Arizona. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. Approval of the SPAC deal was widely expected. We can put the money raised into developing the technology and the market," Thomas Ingenlath, Polestar's chief executive, said in an interview. . In addition to the Geely relationship, Polestar has access to Volvos manufacturing infrastructure. Both stocks are thinly traded over the counter. Nordstroms off-price Rack stores are struggling. NEW YORK, Nov. 29, 2021 /PRNewswire/ -- Juan Monteverde, founder and managing partner of the firm Monteverde & Associates PC ("M&A Firm"), a national securities firm ratedTop 50in the 2018-2020 ISS Securities Class Action Services Report and headquartered at theEmpire State Buildingin New York City, is investigatingGores Guggenheim. He was right. "We don't need the capital to build the factory. Recently, I also suggested that Matterport (NASDAQ:MTTR) was an excellent buy under $20. 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. On May 25, the blank-check company formally announced the date on which shareholders will vote to approve the transaction (June 22). Join the Conversation! 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. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. For the company going public, a SPAC merger serves as an alternative to a traditional IPO. Nevertheless, even as EV stock mania has waned, the EV trend isnt going away. Para obtener ms informacin sobre cmo utilizamos tus datos personales, consulta nuestra Poltica de privacidad y Poltica de cookies. Inc. ("GGPI" or the "Company") (GGPI) a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. . Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Subscriber Agreement & Terms of Use | The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. It could continue to deliver similar performance in the short-term. The post GGPI Stock Heats Up as Polestar SPAC Merger Closes appeared first on InvestorPlace. 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. 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. 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 law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). All told, expectations are high for PSNY stock once it begins trading. 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. Got a confidential news tip? The post Gores Guggenheim Is a Buy, But Consider an Alternative in the Short Term appeared first on InvestorPlace. Anyways we could very well see 20-30$. Li-Cycle (LICY) CEO Ajay Kochhar joins Know Who Drives Return to discuss lithium ion battery recycle in the latest podcast episode. 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. Changing market conditions (namely, rising interest rates) have put pressure on their valuations. This is because either your product or service appeals to the top 20% of household incomes or the bottom 20%. Is GGPI a buy now in 2021? Copyright Create an account to follow your favorite communities and start taking part in conversations. The deal is expected to close later today. The transaction is expected to close in the first half of the year. This browser is no longer supported at MarketWatch. files S-4 for merger with Blade Therapeutics (BBTX). Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. 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. Illusion versus reality. 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. Joel Baglole for GGPI Stock Price - Gores Guggenheim, Inc. is a blank check company. Gores Guggenheim went public with its initial public offering (IPO) in March. Intraday data delayed at least 15 minutes or per exchange requirements. Attorney Advertising. Heres why you should consider them. As a result, I think its chances of survival are much higher than brands such as, On the date of publication, Will Ashworth. 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. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). $GGPI $PSNY @Polestar introduces Tech and Design updates on Polestar 2 The battery is improved increased cell chemistry that provides a higher capacity -This leads to increased range,faster charging, and higher motor output in addition to the design element changes listed in the article 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. . . That is, when EV companies, in the process of ramping up production, can get their facilities firing on all cylinders. 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. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Started over 40 years ago by a business visionary named Tom Phillips, we publish detailed research and recommendations for self-directed investors, financial advisors and money managers. On the date of publication, Joel Baglole did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Type a symbol or company name. 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. Okapis Bruce Goldfarb joins the podcast to discuss the new Universal Proxy Rules and what it means for investors and board members. Post merger, the combined company will be named Polestar Automotive Holding UK Ltd. and will trade under the symbol "PSNY" on the Nasdaq. In what stands to be a pivotal year for the future of the market, we recap January. Comprehensive research and analytics on every SPAC, sponsor, and deal. The technology is used widely in the vacation rental industry. 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. Amidst production hiccups at rivals, Polestar is delivering. Deal Announcement for ISAA /HYPEBEAST . On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. See here for a complete list of exchanges and delays. It formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. All rights reserved. Gores has done as good a job as anyone demonstrating that blank-check companies can deliver the goods. So naturally, theCEO had a lot to say on the subject. Also, dont base a decision to buy or not just on a surface level view of the company. He lives in Halifax, Nova Scotia. Anticipation on GGPI/Polestar merger. This particular EV play is appealing for two reasons. 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. Last year, a record 613 SPAC listings occurred on U.S. exchanges, raising a total of $145 billion. Im a big believer in Alec Gores, the chairman behind this SPAC. However, if you own Gores Guggenheim (NASDAQ:GGPI) stock, one sentence by Ingenlath stands out in a good way. However, of the two, GELYY stock volumes are a little higher. InvestorPlace is one of Americas largest, longest-standing independent financial research firms. He lives in Halifax, Nova Scotia. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. (C) 2021 Monteverde & Associates PC. Provided by Benzinga Since. Heres what investors should know moving forward. 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. On the date of publication, Will Ashworth did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Availability is expected to begin in Spring 2022 in Europe and late 2022 in North America and Australia. Now, with volatility likely to continue into 2022, some possible alternatives exist as a short-term solution for risk-averse EV investors. Yet while its made this major progress, its not resulting in a big move for shares. In 2014, it mass-produced both the S60 and V60 for sale in eight markets. It was established to help Volvo win the Swedish Touring Car Championship. 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. Barring unforeseen developments, Polestar ought to deliver considerable wealth to its patient shareholders in the future.. As reference, LCID, which is still in early production, trades at ~10x 2023E sales. But its a very different market now, amidst a more tepid outlook for growth stocks. Broadcom continued to produce better results and forecast better near-term sales than Wall Street expects Thursday, and shares rose in extended trading. 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. 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. , including Geely at a 3.22% weighting. The fact that the company is moving close to 30,000 units this. It was a slower month to kick off the year for SPACs. As you might be aware, post-merger, Polestars existing shareholders will own 94% of the company. The combination of Gores Guggenheim and Polestar is one of the biggest SPAC deals of the year. 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. We continue to view GGPI shares as undervalued heading into the merger. Ultimately, Tyler felt that waiting could get you a better entry point. 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. As a result, I think its chances of survival are much higher than brands such as Lucid (NASDAQ:LCID) and Rivian (NASDAQ:RIVN). The CEO came out and said Polestar wasnt going to be Volvo (OTCMKTS:VLVLY) or some other brand looking for mass appeal. Despite being outside the top 10, its a reasonable amount of exposure. Before today, GGPI stock traded at $10.84 per share, down about 7% year-to-date (YTD). On July 8,. All quotes are in local exchange time. For aggressive, long-term investors who seek exposure to electric vehicles and dont already own GGPI stock, it is an excellent name to buy. Although its unclear whether it zooms or sits idle in the near-term, over a longer timeframe it could really take off. EV maker Polestar going public via a SPAC with Gores Guggenheim. Today's announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. Many EV enthusiasts see its focus on performance vehicles as a differentiator. Written by We use cookies to optimize our website and our service. Instead, get to know the company a little better. Even as the Polestar deal, which shareholders will vote to approve later this month, is on the verge of closing. For this, if youre very aggressive, Id suggest taking a half position today and waiting to see if it falls lower. 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. Current equity holders of Polestar, who will roll their entire interest in the combined company, will retain about 94% ownership, it said. Korn Ferrys Head of Board Effectiveness Anthony Goodman talks board evaluations, universal proxies, and more with David Drapkin. A recovery may not happen until the market has absorbed the changes in economic and market conditions. Then I realized it was just a survey. 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. 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. 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. 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. 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.