GGPI Stock News: Gores Guggenheim gains EV stocks rebound during bullish session
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get all exclusive analysis, access our analysis and get Gold and signals alerts
Elevate your trading Journey.
UPGRADE- NASDAQ:GGPI gained 0.45% during Wednesday’s trading session.
- Polestar needs to differentiate itself from other luxury EV makers.
- Volvo is looking to test out wireless fast-charging for its EVs.
NASDAQ:GGPI extended its streak to three straight winning sessions this week as the pre-merger SPAC stock continues to move towards its merger with Polestar. On Wednesday, shares of GGPI gained a further 0.45% and closed the trading day at $11.10. Electric vehicle stocks bounced higher on Wednesday despite the price of oil futures tumbling by 12% during the session. The Dow Jones rebounded by 653 basis points as it erased most of its losses from earlier this week. The NASDAQ was buoyed by big tech stocks and surged as Amazon (NASDAQ:AMZN) announced a 20 for 1 stock split. The S&P 500 added 2.57% for its single best trading day since June of 2020.
Stay up to speed with hot stocks' news!
Polestar has released several previews of its concept vehicles and the company is painting a portrait of a high-end, luxury brand. But luxury isn’t always what the consumer is looking for as can clearly be seen with Lucid (NASDAQ:LCID). Even industry leader Tesla (NASDAQ:TSLA) sees a good majority of its sales with its economy class Model 3 and Model Y vehicles. Polestar will likely need to rely on its Polestar 2 model to do most of the legwork for the brand as the new O2 concept roadster will likely price out most of its customers.
Gores Guggenheim stock price
Polestar’s majority stakeholder, Volvo, is testing out some interesting new technology for its XC40 Recharge taxis. The Swedish automaker is implementing wireless fast-charging for a small fleet of its taxis in Volvo’s home city of Gothenburg. The vehicles will be equipped with embedded charging pads, which will allow for charging without the need for the driver to exit the car.
Like this article? Help us with some feedback by answering this survey:
- NASDAQ:GGPI gained 0.45% during Wednesday’s trading session.
- Polestar needs to differentiate itself from other luxury EV makers.
- Volvo is looking to test out wireless fast-charging for its EVs.
NASDAQ:GGPI extended its streak to three straight winning sessions this week as the pre-merger SPAC stock continues to move towards its merger with Polestar. On Wednesday, shares of GGPI gained a further 0.45% and closed the trading day at $11.10. Electric vehicle stocks bounced higher on Wednesday despite the price of oil futures tumbling by 12% during the session. The Dow Jones rebounded by 653 basis points as it erased most of its losses from earlier this week. The NASDAQ was buoyed by big tech stocks and surged as Amazon (NASDAQ:AMZN) announced a 20 for 1 stock split. The S&P 500 added 2.57% for its single best trading day since June of 2020.
Stay up to speed with hot stocks' news!
Polestar has released several previews of its concept vehicles and the company is painting a portrait of a high-end, luxury brand. But luxury isn’t always what the consumer is looking for as can clearly be seen with Lucid (NASDAQ:LCID). Even industry leader Tesla (NASDAQ:TSLA) sees a good majority of its sales with its economy class Model 3 and Model Y vehicles. Polestar will likely need to rely on its Polestar 2 model to do most of the legwork for the brand as the new O2 concept roadster will likely price out most of its customers.
Gores Guggenheim stock price
Polestar’s majority stakeholder, Volvo, is testing out some interesting new technology for its XC40 Recharge taxis. The Swedish automaker is implementing wireless fast-charging for a small fleet of its taxis in Volvo’s home city of Gothenburg. The vehicles will be equipped with embedded charging pads, which will allow for charging without the need for the driver to exit the car.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.