An alternative to Tesla. 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. Sept 27 (Reuters) - 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. Defends Financial Benefits of IAA Deal. 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. The CEO came out and said Polestar wasnt going to be Volvo (OTCMKTS:VLVLY) or some other brand looking for mass appeal. And Im not the only one. 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.. Copy and paste multiple symbols separated by spaces. Featured. A key advantage we have highlighted repeatedly is Polestars existing partnerships / manufacturing relationships. read more. As a result, Geely owns 50.5% of Polestars equity while Volvo owns 49.5%. 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. 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. On May 25, the blank-check company formally announced the date on which shareholders will vote to approve the transaction (June 22). Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. ggpi-10q_20210630.htm InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Special purpose acquisition company (SPAC) Gores Guggenheim (NASDAQ: GGPI) continues to be on schedule with its planned merger with electric vehicle (EV) maker Polestar. Ingenlath wants customers that will be loyal to the Polestar brand. Last year, a record 613 SPAC listings occurred on U.S. exchanges, raising a total of $145 billion. We want to hear from you. Lorem ipsum dolor sit amet, consectetur adipiscing elit. did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Right now investors are paying. Polestar has been developing electric vehicles since 2017, the latest of which is a performance roadster. Will GGPI Stock Rise More After Polestar Merger Date in 2022? Gores has done as good a job as anyone demonstrating that blank-check companies can deliver the goods. He particularly enjoys creating model portfolios that stand the test of time. Yet while its made this major progress, its not resulting in a big move for shares. The good news for GGPI stock is that relatively speaking Polestar seems far less likely than peers to be one of those companies. 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. Our Standards: The Thomson Reuters Trust Principles. Objective, data-driven assessments for every public company director and officer. For the company going public, a SPAC merger serves as an alternative to a traditional IPO. Im a big believer in Alec Gores, the chairman behind this SPAC. Amidst a proxy fight with Trian, Walt Disney Co. (DIS) announced that it will cut ~7k jobs as part of a $5.5B cost savings plan. Do this now. However, it was what he said Polestar is and isnt that caught my attention. in July and Gores brought $310 million in cash to the deal after redemptions. It will also have a more daring design, InsideEVs reported Ingenlaths comments. Polestar Is The 9th SPAC Merger For The Gores Group: Here's How The GGPI: Gores Guggenheim, Inc. Class A: $0: 10/25/2021: On 9/27/2021 the company announced a pending merger with Polestar Automotive, a global pure play, premium electric vehicle ("EV") company based in Sweden. Illusion versus reality. Polestar / Gores Guggenheim Inc.(GGPI) made a splash this morning, announcing a partnership with Hertz (HTZ) that includes purchasing up to 65,000 electric vehicles (EVs) over five years. All quotes delayed a minimum of 15 minutes. From the day the Polestar 1 was launched, I have been a fan of the brands designs. Keep an Eye on Gores Guggenheim Stock, as it Gears Up for its EV Merger What happens to my Social Security benefit if my husband dies? February 28, 2023. Anyways we could very well see 20-30$. 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. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. However, thats an entirely different subject than whether you should buy GGPI at todays prices. Special purpose acquisition company (SPAC) Gores Guggenheim (NASDAQ:GGPI) continues to be on schedule with its planned merger with electric vehicle (EV) maker Polestar. 2023 InvestorPlace Media, LLC. GGPI Gores Guggenheim Inc - Ordinary Shares - Class A Place to discuss GGPI and Polestar. The contrast between the stock buildup of CCIV/LCID versus GGPI/PSNY is readily apparent. 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. Shares of Gores Guggenheim pared some earlier gains and were up over 4% in morning trading. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. InvestorPlace->, InvestorPlace - Stock Market News, Stock Advice & Trading Tips. 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. What Is the Best EV Stock to Buy Now? The EV just looks nice. Im 66, we have more than $2 million, I just want to golf can I retire? It formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. News, Media, rumors,and general discussion topics are welcome! 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. The transaction is expected to close in the first half of the year. All rights reserved. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. But its a very different market now, amidst a more tepid outlook for growth stocks. In 2014, it mass-produced both the S60 and V60 for sale in eight markets. Based on a $49K starting price, the deal is valued at ~$3.2B. 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. The company is an established EV maker outside the U.S. but not headquartered in China. Polestar is a Swedish electric vehicle manufacturer backed by Volvo and Volvo's de facto . Now, with volatility likely to continue into 2022, some possible alternatives exist as a short-term solution for risk-averse EV investors. Comprehensive research and analytics on every SPAC, sponsor, and deal. Its opening more of them anyway. 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. EV maker Polestar strikes $20-bln deal with Gores Guggenheim SPAC Consumers looking for more ways to save money helped Kroger beat profit expectations and provide an upbeat outlook. 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. That company provides digital twins of properties. Excluding employee stock compensation from one measure of earnings make them look more favorable. Korn Ferrys Head of Board Effectiveness Anthony Goodman talks board evaluations, universal proxies, and more with David Drapkin. The focus was entirely on internal combustion-powered vehicles. Banjo player, artist, and frittata-maker. 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. 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. Many EV enthusiasts see its focus on performance vehicles as a differentiator. 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. As reference, LCID, which is still in early production, trades at ~10x 2023E sales. "We don't need the capital to build the factory. Polestar's listing plan comes as automakers shift their focus to environment-friendly vehicles, amid rising pressure from lawmakers and investors concerned about climate change. Stock Prodigy Who Found NIO at $2 Says Buy THIS Now, Man Who Called Black Monday: Prepare Now.. At writing, its at $9.97 per share, just a penny above its debut price. 1125 N. Charles St, Baltimore, MD 21201. We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. 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. Press question mark to learn the rest of the keyboard shortcuts. The critical distinction about Polestar is that its not a startup. It was established to help Volvo win the Swedish Touring Car Championship. 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 and information contained herein have been obtained or derived from sources believed to be reliable, butBoardroom Alphacannot guarantee its accuracy and completeness, and thatofthe opinions based thereon. 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. Joel Baglole for As you might be aware, post-merger, Polestars existing shareholders will own, . SPAC Merger | DealFlow's SPAC News 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. 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. Inc. ("GGPI" or the "Company") (GGPI)a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. He was right. For the best MarketWatch.com experience, please update to a modern browser. 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. Salesforce Inc. (CRM) surges after hours following earnings amidst potential activist activity and todays SPAC, IPO, and Exec News. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The Polestar deal will be supported. Written by Heres why you should consider them. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. Copyright 2023 InvestorPlace Media, LLC. 7 Tech Stocks Worth Snatching Up After Their Tumble. In 2015, Volvo acquired Polestars high-performance business. Despite being outside the top 10, its a reasonable amount of exposure. 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. March 1, 2023. However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. The opinions expressed in this article are those of the writer, subject to the, 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Prior results do not guarantee a similar outcome with respect to any future matter. Ingenlaths comments in Automotive News laid out Polestars three-pronged production plan for China, South Carolina and Europe. Market is a lot different now versus CCIV/LCID times. The Car Design Award was established in 1984 by Fulvio Cinti, founder and editor-in-chief of Auto&Design for more than thirty years. Polestar looks to be a nich brand, which makes GGPI stock attractive here. Polestar said at the Beijing Motor Show last year that it has another model in development called the Precept, which is a larger sedan. 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. We use cookies to optimize our website and our service. 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. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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. Its beginning dates back to. Moreover, Polestar put together a very good slide deck presentation . A buy under $10 would be an excellent entry point, in my opinion. I share my. 1125 N. Charles St, Baltimore, MD 21201. 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. 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. Article printed from InvestorPlace Media, https://investorplace.com/2022/03/ggpi-stock/. . Will Ashworth has written about investments full-time since 2008. URGENT: The M&A Firm is Investigating the Merger of Gores Guggenheim The Gravity performance luxury SUV is expected to come to market in North America in 2023. It predicts it will rake in $1.6 billion in revenue this year and double that number next year. Barring unforeseen developments, Polestar ought to deliver considerable wealth to its patient shareholders in the future.. It was established to help Volvo win the Swedish Touring Car Championship. files S-4 for merger with Blade Therapeutics (BBTX). PSQ Holdings is a marketplace that connects who it describes as "freedom-loving" Americans. Create an account to follow your favorite communities and start taking part in conversations. 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. Don't take it as financial . For the company going public, a SPAC merger serves as an alternative to a traditional IPO. The merger with Polestar via SPAC deal to take it public is finally nearing completion. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. In December, its currently down almost 16%. Despite being outside the top 10, its a reasonable amount of exposure. 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. Cision Distribution 888-776-0942 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. DWAC (Digital World Acquisition) Accumulated other comprehe So naturally, theCEO had a lot to say on the subject. Aug. 17 2021, Published 3:11 p.m. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. Theres even room for more lines. Gores Guggenheim (GGPI): Polestar Merger Should Entice EV Bulls 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. In what stands to be a pivotal year for the future of the market, we recap January. Polestar is unique in that while its not the flashiest vehicle, the companys main selling proposition is to make reliable cars without gimmicks. But no matter when exactly the recovery begins, it may be worthwhile to lock down positions before it happens rather than after it happens. In fact, as its already reached the billion dollar mark in terms of sales, calling it early stage may be a misnomer. Ultimately, Tyler felt that waiting could get you a better entry point. In other words, hes saying if you buy a Polestar, youll be getting something unique and special. The premium EV maker's offering includes two models: a hybrid car known as Polestar 1 and a fully electric Polestar 2. Instead, it would be a niche producer of EVs. Heres what investors should know moving forward. Anywhere in between makes it harder to gain customer loyalty. I entered GGPI and will increase my position tomorrow tho. Create your Watchlist to save your favorite quotes on Nasdaq.com. The funding will be used to. from 8 AM - 9 PM ET. Join the Conversation! Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. GGPI / Polestar gaining momentum on 5-Year HTZ Deal Its beginning dates back to 1996. Nordstroms off-price Rack stores are struggling. Okapis Bruce Goldfarb joins the podcast to discuss the new Universal Proxy Rules and what it means for investors and board members. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). 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. 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. GGPI shares starting to regain momentum ahead of merger vote. Type a symbol or company name. Lucid Motors strikes SPAC deal to go public with $24 - TechCrunch The stock did rise the day after the shareholder vote announcement, but since then, its drifting lower. All Rights Reserved. either via e-mail at [emailprotected] or by telephone at (212) 971-1341. All told, expectations are high for PSNY stock once it begins trading. 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. As a result, I think its chances of survival are much higher than brands such as, On the date of publication, Will Ashworth. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. Investors also like the fact a global automotive giant backs Polestar. The five-year agreement gives renters an alternative to Tesla (TSLA), which announced a relationship with Hertz in November 2021. Also, over the years the firm has recovered or secured over a dozen cash common funds for shareholders in mergers & acquisitions class action cases. Sign up for free newsletters and get more CNBC delivered to your inbox. Will Ashworth has written about investments full-time since 2008. InvestorPlace is one of Americas largest, longest-standing independent financial research firms. Current equity holders of Polestar, who will roll their entire interest in the combined company, will retain about 94% ownership, it said. The deal relates primarily to the EV makers Model 3. While its debatable how much of a deal pop well see on close, the fundamentals here are whats most important. Lastly, the fact that Ingenlath doesnt want to be something to everyone suggests that he fully understands Polestars target market. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. At $11.20 it's $24 billion. Insurance Doesnt Have to Be Boring. Copyright 2023 MarketWatch, Inc. All rights reserved. Transaction is expected to be completed in the second quarter of 2022. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Broadcom continued to produce better results and forecast better near-term sales than Wall Street expects Thursday, and shares rose in extended trading. Polestar CEO Thomas Ingenlath recently discussed the companys plans with Automotive News. It previously said it has another model in development called the Precept, which is a larger sedan. See here for a complete list of exchanges and delays. We earn $400,000 and spend beyond our means. Oklahoma voters go to polls on cannabis measure, while Pennsylvania eyes adult-use bill, U.S. companies embark on record borrowing spree, despite paying highest rates since 2009, Salesforce Reports Financial Results Like a Tech Start-Up, Activist Investors Are Finding the Tables Turned, Sleep Country Canada Up 7.7% as 4Q Profit Gets Hush Brand Adjustment Boost, Daseke Chief Operating Officer Rick Williams to Retire, HP Enterprise Posts Strong Earnings Beat, Lifts Guidance, TD bank may reprice major acquisition of First Horizon, analyst says, Lightspeed Commerce Oper Chief Brandon Nussey Steps Down, Shopping at Kroger can be up to four times cheaper than eating out, CEO says, Broadcom stock moves higher after earnings, forecast beat, Ritchie Bros. Second, it currently trades at an attractive valuation relative to its prospects. That said, I suppose you could also argue that GGPI will move significantly higher once its trading under its new symbol, PSNY. All quotes are in local exchange time. PDF Polestar Signs Agreement to be Publicly Listed Through Combination with 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. Two years later, it made a move to electric-powered performance vehicles. Subscriber Agreement & Terms of Use |
Recently, I also suggested that Matterport (NASDAQ:MTTR) was an excellent buy under $20. 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"). At least, based on its success so far, and on future projections. Thats well above where it currently trades under the $11.50 level. 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. At the time of this writing, the stock is down 2.83% on the day, closing in on $11. This is a collection of 34 auto manufacturers, including Geely at a 3.22% weighting. . Polestar Announces 270-Mile EPA Range, Power Upgrades, and Efficiency
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Glen Jakovich Family, Articles G