About GGPI Stock
In this article, we will discuss GGPI stock, which is one of the stock market companies. The GGPI full form is Gores Guggenheim, Inc. The company originated on December 21, 2020, and its headquarter is in Boulder. They are complex in real stocks, things like buying and selling stocks, capital stock exchange, asset acquisition, etc. Thus, the GGPI stock also doesn’t pay dividends to its shareholders.
The target price for GGPI stock is $7 based on the average of what a group of analysts thinks GGPI stock could be worth at a future date, and it is not a prediction by Public.com. As of March 26, 2023, the market cap for GGPI stock is $1.13B.
Holder Of GGPI
Morgan Stanley – Brokerage Accounts is the most significant individual and institutional holder of Gores Guggenheim Inc (GGPI), owning 657 thousand shares. The top 20 institutional holders of GGPI own 0.78% of the company with 776 thousand shares.
In the latest ownership report on June 30, 2022, the top 20 institutional holders decreased their combined ownership of GGPI by 4.2 million shares. None of the institutional holders bought any additional claims. However, 11 institutions sold 4,204,858 total shares and decreased their license by an average of 100%.
Overall, this is a negative sign as the number of shares owned by the top 20 institutional holders of Gores Guggenheim decreased by a net total of -4,204,858 in the latest quarter.
What Kind Of Company Is GGPI?
Gores Guggenheim, Inc. is a company which is known as a blank check company. Its purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It is a particular purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, founded by Alec Gores, and by an affiliate of Guggenheim Capital, LLC.
They completed their initial public offering in April 2021, raising approximately USD 800 million in cash proceeds to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or parallel business combination with one or more businesses.
Gores Guggenheim’s strategy is to recognize and complete business combinations with market-leading companies with solid equity stories. Thus, they will benefit from the growth capital of the public equity markets. Moreover, the experience and expertise of Gores and Guggenheim’s long history and track record of investing in and operating businesses can enhance them.
How To Buy GGPI Stock?
Gores Guggenheim (GGPI) is a standard stock record on the exchange, which means you can buy the stock from most online brokers. Follow the steps below to recognize how to purchase shares of GGPI;
1. Find a Reliable Broker.
Don’t worry; opening a brokerage account is easy and free. Below are our general brokers whom you can buy Gores Guggenheim from:
- Webull: It is the best promotions broker; you can get 12 free stocks valued at up to $30,600 when you open and fund a new account.
- Moomoo: It has the best sign-up offer; you can get five free stocks valued at up to $3,500 when you open and fund a new account. Moreover, we can get a free share of AAPL for a limited time.
- com: It is for investing socially in public. We can start investing around $1 and see what others are buying.
2. Fund Your New Account.
You’ll need to transfer money into your new brokerage account before you can buy the stock. Transferring via a bank transfer is optional and the most common way to fund an account. Some brokers might allow funding via a debit or credit card.
3. Search for GGPI Stock.
When your funds are stable in your account, look for Gores Guggenheim on your broker by searching for the company name: Gores Guggenheim or the ticker symbol: GGPI.
4. Buy the Stock – GGPI Stock.
Once you’ve found Gores Guggenheim on your broker, submit a purchase order to buy shares of the stock (currently $11.22 a share). Depending on when you purchase, the stock might be higher or lower than the price listed. You may also be able to buy fractional shares depending on your broker.
Hence, once your order is complete, you’ve purchased your first shares of Gores Guggenheim Inc.
What’s Happening With GGPI Stock?
In a media statement, Gores Guggenheim confirmed that its shareholders had chosen to support the combination with Polestar, bringing the European EV maker to the public market. Approval of the SPAC deal expect, and Gores Guggenheim believes the agreement will raise about $850 million in gross income.
Polestar was first established in 1996 by Swedish automotive giant Volvo. And the company is headquartered in Sweden but manufactures its EVs in China. Polestar has been growing electric vehicles since 2017, the latest of which is a performance buggy.
The reverse merger between GGPI and Polestar is one of the few significant SPAC deals this year. After a bustling 2021, the SPAC market has markedly reduced amid the global market downturn. Last year, a record 613 SPAC programs occurred on U.S. exchanges, raising $145 billion. So far this year, there have only been 11 SPAC programs valued at $25 million or more. At least 73 SPACs planned to go public this year, canceling due to deteriorating market conditions.
GGPI Stock Looks Good Under the Hood
- Covid-19 and Russian-tied supply cable problems a rise in at-risk customer spending. There’s little doubt each factor has weighed on the EV market and the group’s dismal shareholder performance. Yet this year, GGPI stock’s upstart Polestar has been navigating those difficulties like a champ.
- After all, the Volvo (OTCMKTS: VLVLY) and Geely (OTCMKTS: GELYF) backed electric vehicle manufacturer’s Polestar 1 and 2 have been widespread, serious hits with customers in 19 international markets spanning Europe, China, Australia, and the America.
- However, don’t just listen to my word for it; examine the engine to see whether GGPI stock and Polestar are honest. In the most recent quarter, 13,600 Polestar vehicles were delivered, according to GGPI. That is almost half of the 29,000 EVs in over three months in 2021. And don’t forget, sales of cars in 2020 were outsold by last year’s revenue by 185%.
- GGPI recently reduced this year’s full-year delivery guidance from 65,000 to 50,000 vehicles. The reason? Lengthy lockdowns in China in 2022 negatively impacted its production.
- Nonetheless, Polestar’s longer-term promise that it remains on pace to sell 290,000 EVs in 2025 on the back of five models gets the benefit of the doubt, given that it has demonstrated highly trustworthy in delivering on its forecasts during the epidemic.
Therefore, in the past week, the price per share of Gores Guggenheim has gone up ↑11.22 (inf%). In contrast, the daily volume has decreased slightly. You should buy GGPI now if you think the stock will continue increasing in price. In the end, you should be comfortable with the investment risk and only buy shares of GGPI when you feel the time is right.
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