The relatively newly founded Gores Guggenheim (GGPI), valued at $ 1.138B, is engaged in asset acquisitions, businesses and mergers. The GGPI price has been volatile over the past 30 days. However, it didn’t fall below $ 10.98 and didn’t exceed the $ 12.14 mark. During the last trade, the worth rose 3% to $ 11.37 on a trading volume of $3,096,607. Gores Guggenheim is planning a merger with Polestar, which will be completed in the first half of this year. It would seem that this news should have a favorable effect on the prices of stocks of both companies and attract investors.
But due to fierce competition in the electric vehicle market, Gores Guggenheim may not benefit from the merger. Because, firstly, Polestar faced the problem of a shortage of chips, which, according to the director, will last for one year, while Tesla foresaw this issue last year and took the necessary actions. Secondly, its cars are not something uncommon to stand out from the competition. And thirdly, a supply chain problem will halt the production of Polestar vehicles. But in 2021 it sold a record 29,000 cars and entered 9 new markets. It expects to meet its expansion target this year. This article doesn’t encourage you to buy or sell GGPI stock, but only informs you about the latest news. Please conduct a thorough study before making any decisions.