Recently, I also suggested that Matterport (NASDAQ:MTTR) was an excellent buy under $20. Labor representatives at a Nissan Motor Co Ltd plant in the central Mexican state of Morelos have reached an agreement with the Japanese carmaker to hike pay 9% as of April, the union said. As a result, I think its chances of survival are much higher than brands such as, On the date of publication, Will Ashworth. However, if you own, for China, South Carolina and Europe. The opinions and information contained herein have been obtained or derived from sources believed to be reliable, butBoardroom Alphacannot guarantee its accuracy and completeness, and thatofthe opinions based thereon. The reverse merger between GGPI and Polestar is one of the few large SPAC deals to happen this year. Todays announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. Anyways we could very well see 20-30$. I think this stock may continue to trade in the low teens until the de-SPAC merger happens in 2022. 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. Deal Announcement for ISAA /HYPEBEAST . Ingenlath wants customers that will be loyal to the Polestar brand. Thats well above where it currently trades under the $11.50 level. 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. This is because either your product or service appeals to the top 20% of household incomes or the bottom 20%. The funding will be used to. In addition to the Geely relationship, Polestar has access to Volvos manufacturing infrastructure. So naturally, theCEO had a lot to say on the subject. The partnership with Polestar builds on Hertzs announcement last October to offer its customers the largest EV rental fleet in North America and one of the largest in the world. 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. Insurance Doesnt Have to Be Boring. Im a big believer in Alec Gores, the chairman behind this SPAC. Last year, a record 613 SPAC listings occurred on U.S. exchanges, raising a total of $145 billion. $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 A recovery may not happen until the market has absorbed the changes in economic and market conditions. 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. 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. Press question mark to learn the rest of the keyboard shortcuts. Hertz pushing to be the largest EV rental fleet, adding zero emission models. I share my. 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. Additionally, a possible third alternative here is to buy the First Trust Nasdaq Global Auto Index Fund (NASDAQ:CARZ). In December, its currently down almost 16%. Gores Guggenheim completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds . Privacy Notice | 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. We use cookies to optimize our website and our service. 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. From the day the Polestar 1 was launched, I have been a fan of the brands designs. This report contains opinions and is provided for informationalpurposes only it does not constitute investment, legal or tax advice. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The Company completed the Public Offering on March 25, 2021 (the "IPO Closing Date"). See here for a complete list of exchanges and delays. Amidst production hiccups at rivals, Polestar is delivering. But its a very different market now, amidst a more tepid outlook for growth stocks. Last month, Hertz added Teslas mid-size SUV Model Y to its electric vehicle fleet. Our 3 Top Picks. The critical distinction about Polestar is that its not a startup. The deal also includes a PIPE, or private investment in public equity, of $250 million from top-tier institutional investors. However, thats an entirely different subject than whether you should buy GGPI at todays prices. 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. 2023 CNBC LLC. files S-4 for merger with Blade Therapeutics (BBTX). It was established to help Volvo win the Swedish Touring Car Championship. Nevertheless, even as EV stock mania has waned, the EV trend isnt going away. Anywhere in between makes it harder to gain customer loyalty. Now, with volatility likely to continue into 2022, some possible alternatives exist as a short-term solution for risk-averse EV investors. Changing market conditions (namely, rising interest rates) have put pressure on their valuations. The higher the price point, the easier it is to pull off. At least 73 SPACs that had planned to go public this year have since been canceled due to deteriorating market conditions. proporcionarte nuestros sitios y aplicaciones; autenticar usuarios, aplicar medidas de seguridad y evitar el spam y los abusos, y. medir el uso que haces de nuestros sitios y aplicaciones. A buy under $10 would be an excellent entry point, in my opinion. Heres what investors should know moving forward. Assuming a post-merger tally of approximately 2.15 billion shares, a stock price of $20 on GGPI equates to a $43 billion market cap. The company is an established EV maker outside the U.S. but not headquartered in China. SPAC Merger. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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. About the Car Design Award. That is, when EV companies, in the process of ramping up production, can get their facilities firing on all cylinders. However, it was what he said Polestar is and isnt that caught my attention. 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. He lives in Halifax, Nova Scotia. It could continue to deliver similar performance in the short-term. 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. Initial orders are for the Polestar 2 sedan. Most important, the company is well underway with production and revenue generation ($1.6B in 2021 sales). 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. Li-Cycle (LICY) CEO Ajay Kochhar joins Know Who Drives Return to discuss lithium ion battery recycle in the latest podcast episode. The Gravity performance luxury SUV is expected to come to market in North America in 2023. 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. Then I realized it was just a survey. Real-time alerts, yields, red flags, filings, investors, and much more. 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. Even as the Polestar deal, which shareholders will vote to approve later this month, is on the verge of closing. 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. An alternative to Tesla. This is a collection of 34 auto manufacturers, including Geely at a 3.22% weighting. 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"). But there is reason to believe that quality, well-run EV companies like PSNY will survive and thrive in the years ahead. 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. 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. So far this year, there have only been 11 SPAC listings valued at $25 million or more.

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