DWACW (Digital World Acquisition) Owner Earnings per Share (TTM) as of today (March 02, 2023) is . SPACs are publicly listed companies that are raised with the intention of merging with a private company at a later date. 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. 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. Gores Guggenheim went public with its initial public offering (IPO) in March. Buy GGPI Before The Merger With Polestar - SeekingAlpha 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. This is a collection of 34 auto manufacturers, including Geely at a 3.22% weighting. SPAC Merger. Merging with Colombier Acquisition in $200M Deal. Theres even room for more lines. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Ingenlath wants customers that will be loyal to the Polestar brand. LOS ANGELES & GOTHENBURG, Sweden, June 21, 2022 -- ( BUSINESS WIRE )--Gores Guggenheim, Inc. ("Gores Guggenheim" or the "Company") (NASDAQ: GGPI, GGPIU and GGPIW), a special purpose acquisition. Novembers SPAC market review paints a picture of a SPAC market rushing towards the exit with high, and accelerating liquidations, more deal terminations, and almost no new SPAC IPOs. The premium EV maker's offering includes two models: a hybrid car known as Polestar 1 and a fully electric Polestar 2. It is free and there is no cost or obligation to you. Anyways we could very well see 20-30$. 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. Market is a lot different now versus CCIV/LCID times. The transaction is expected to close in the first half of the year. From the day the Polestar 1 was launched, I have been a fan of the brands designs. So naturally, theCEO had a lot to say on the subject. Its a New Era for Tech Stocks. 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. Build your trading network; Follow your favorite assets . March 1, 2023. Shares of GGPI are down a little over 2% as of this writing. The company, which delivered about 10,000 vehicles last year, said it expects to sell about 290,000 vehicles per year by 2025 and plans to launch three new models by 2024. did not have (either directly or indirectly) any positions in the securities mentioned in this article. On the date of publication, Joel Baglole did not hold (either directly or indirectly) any positions in the securities mentioned in this article. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. As you might be aware, post-merger, Polestars existing shareholders will own, . At the end of November, I argued that GGPI stock was a better buy for aggressive investors than, f a stock is destined to be a long-term winner (five to 10 years out), there is no rush to run out and buy it. At the time of this writing, the stock is down 2.83% on the day, closing in on $11. Polestar SPAC Merger Makes GGPI Stock a Hot Item - InvestorPlace DWAC (Digital World Acquisition) Accumulated other comprehe He was right. Insurance Doesnt Have to Be Boring. Don't take it as financial . Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. Todays announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. Polestar, backed by Volvo Car Group and affiliates of Geely Chairman Eric Li, also counts Hollywood actor Leonardo DiCaprio among its investors. The funding will be used to. Ive learned in recent years that businesses operating in the middle have less chance of success. Broadcom continued to produce better results and forecast better near-term sales than Wall Street expects Thursday, and shares rose in extended trading. Gores Guggenheim and Polestar Announce Effectiveness of | GGPI Stock News At least 73 SPACs that had planned to go public this year have since been canceled due to deteriorating market conditions. Labor representatives at a Nissan Motor Co Ltd plant in the central Mexican state of Morelos have reached an agreement with the Japanese carmaker to hike pay 9% as of April, the union said. As we move into the merger vote, we think GGPI should be trading closer to $20. Yet if youve done your research, and are bullish on the future prospects of this promising EV play, consider GGPI stock a buy. Twitter Reports 40% Drop in Revenue and Adjusted Earnings to Investors: WSJ. 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. Consumers looking for more ways to save money helped Kroger beat profit expectations and provide an upbeat outlook. 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. The EV just looks nice. 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"). Heres why you should consider them. For aggressive, long-term investors who seek exposure to electric vehicles and dont already own GGPI stock, it is an excellent name to buy. It may not be until the supply chain issues are resolved. Im 66, we have more than $2 million, I just want to golf can I retire? InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Instead, get to know the company a little better. Before today, GGPI stock traded at $10.84 per share, down about 7% year-to-date (YTD). Inc. ("GGPI" or the "Company") (GGPI) a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. Cision Distribution 888-776-0942 Moreover, Polestar put together a very good slide deck presentation . 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. [I]f a stock is destined to be a long-term winner (five to 10 years out), there is no rush to run out and buy it. However, what he said next did. Attorney Advertising. Get this delivered to your inbox, and more info about our products and services. We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. GGPI Gores Guggenheim Inc - Ordinary Shares - Class A On May 25, the blank-check company formally announced the date on which shareholders will vote to approve the transaction (June 22). Data is a real-time snapshot *Data is delayed at least 15 minutes. Get in Now on Tiny $3 Forever Battery Stock, Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air. Many EV enthusiasts see its focus on performance vehicles as a differentiator. Nelzon Peltz and Trian dropped their proxy fight against Walt Disney Co. (DIS) following Disneys cost cutting, reorg, and board appointments. Owner Earnings per Share (TTM) explanation, calculation, his Historical and current end-of-day data provided by FACTSET. This report contains opinions and is provided for informationalpurposes only it does not constitute investment, legal or tax advice. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. The technology is used widely in the. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. Now, with volatility likely to continue into 2022, some possible alternatives exist as a short-term solution for risk-averse EV investors. An alternative to Tesla. 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. . either via e-mail at [emailprotected] or by telephone at (212) 971-1341. 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. A buy under $10 would be an excellent entry point, in my opinion. 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. I also said that, at these prices, GGPI stock would seem like a steal in a few years. This is because either your product or service appeals to the top 20% of household incomes or the bottom 20%. 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. Banking giant TD still wants to buy First Horizon a year after megadeal was announced, but the purchase price may drop, given lower sector valuations. Rubicon Technologies (RBT) CEO Jevan Anderson resigned, Marblegate is merging with itself, and the rest of the days digest. (C) 2021 Monteverde & Associates PC. Transaction is expected to be completed in the second quarter of 2022. Hedge funds sells stakes in Trump SPAC firm DWAC after merger news - CNBC 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. The combination of Gores Guggenheim and Polestar is one of the biggest SPAC deals of the year. Anticipation on GGPI/Polestar merger. Polestars listing gives investors access to an interesting opportunity, however. 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. He lives in Halifax, Nova Scotia. GGPI Stock Heats Up as Polestar SPAC Merger Closes, Do Not Sell My Personal Information (CA Residents Only). Lorem ipsum dolor sit amet, consectetur adipiscing elit. Navigating stock market volatility since it all began in 2000. However, at one point in mid-November, GGPI stock was trading as high as $16.41. We continue to view GGPI shares as undervalued heading into the merger. Its safe to say this isnt the best market for an EV company to debut. Second, it currently trades at an attractive valuation relative to its prospects. GGPI shares have been trading in a steady ~$11 range prior to day's announcement (shares are up 8% intraday). Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Source: Jeppe Gustafsson / Shutterstock.com. Si quieres personalizar tus opciones, haz clic en Gestionar configuracin de privacidad. As a result, I think its chances of survival are much higher than brands such as Lucid (NASDAQ:LCID) and Rivian (NASDAQ:RIVN). Visit a quote page and your recently viewed tickers will be displayed here. 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. The critical distinction about Polestar is that its not a startup. SPAC Merger. See here for a complete list of exchanges and delays. Thats well above where it currently trades under the $11.50 level. 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. 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. However, it was what he said Polestar is and isnt that caught my attention. GGPI shares starting to regain momentum ahead of merger vote. files S-4 for merger with Blade Therapeutics (BBTX). The focus was entirely on internal combustion-powered vehicles. For the company going public, a SPAC merger serves as an alternative to a traditional IPO. Investors also like the fact a global automotive giant backs Polestar. 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 reverse merger between GGPI and Polestar is one of the few large SPAC deals to happen this year. Polestar was first established in 1996by Swedish automotive giantVolvo (OTCMKTS:VLVLY). Current equity holders of Polestar, who will roll their entire interest in the combined company, will retain about 94% ownership, it said. Join the Conversation! However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. GGPI Stock Will Pop Post Merger, But There's Still Time to Buy The reverse merger between GGPI and Polestar is one of the few large SPAC deals to happen this year. After a bustling 2021, the entire SPAC market has slowed markedly amid the global market. We use cookies to optimize our website and our service. Also, dont base a decision to buy or not just on a surface level view of the company. The post GGPI Stock Heats Up as Polestar SPAC Merger Closes appeared first on InvestorPlace. 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. Will GGPI Stock Rise More After Polestar Merger Date in 2022? 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.
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