GGPI/ Polestar revs up on HTZ Deal. DWAC Slammed by Elon's TWTR Stake. 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. We want to hear from you. Plus500. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Approval of the SPAC deal was widely expected. Stock Prodigy Who Found NIO at $2 Says Buy THIS Now, Man Who Called Black Monday: Prepare Now.. We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. Mergers and Acquisitions news coverage - MarketWatch 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. February 28, 2023. 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. The combination of Gores Guggenheim and Polestar is one of the biggest SPAC deals of the year. 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. DWAC (Digital World Acquisition) Accumulated other comprehe Shares of GGPI are down a little over 2% as of this writing. The funding will be used to. If you own the shares of the EV maker already, dont worry about its poor performance recently, I wrote in January. However, for now, it seems to have its feet on the ground, providing investors with very reasonable growth projections. Banjo player, artist, and frittata-maker. Polestar has been developing electric vehicles since 2017, the latest of which is a performance roadster. Instead, get to know the company a little better. Polestar Announces 270-Mile EPA Range, Power Upgrades, and Efficiency Create an account to follow your favorite communities and start taking part in conversations. Intraday Data provided by FACTSET and subject to terms of use. A buy under $10 would be an excellent entry point, in my opinion. However, thats an entirely different subject than whether you should buy GGPI at todays prices. Source: Jeppe Gustafsson / Shutterstock.com, CEO Thomas Ingenlath recently discussed the companys plans with, CEO had a lot to say on the subject. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Copyright Sign up for free newsletters and get more CNBC delivered to your inbox. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks.