|

GGPI Stock News: Gores Guggenheim drops to start the week as EV sector tumbles

  • NASDAQ:GGPI fell by 1.15% during Monday’s trading session.
  • Polestar is looking to add to its momentum from the Hertz announcement.
  • Tesla stock falls below $1,000 as Chinese sales stall.

NASDAQ:GGPI started the week off on the back foot as it succumbed to the downward selling pressure in the EV sector and the broader NASDAQ index. On Monday, shares of GGPI fell by 1.15% and closed the trading day at $12.07. US markets tumbled as the key ten-year treasury yields hit a three-year high, jumping above 2.79%. The Fed also warned of extraordinarily high inflation rates for the month of March, which also weighed on the minds of investors. The Dow Jones dropped by 413 basis points, the S&P 500 fell by 1.69%, and the NASDAQ led the way lower once again with a 2.18% loss during the session.


Stay up to speed with hot stocks' news!


As Polestar and GGPI continue to head towards their impending merger, the EV maker is looking to build on its current momentum. Last week, it was announced that Polestar’s vehicles would be added to the lineup of rental cars for Hertz. The company has been upgrading its fleet with electric vehicles, most notably from industry leader Tesla (NASDAQ:TSLA). The order for 65,000 Polestar vehicles is significant, and established the company as a respectable global brand in the EV sector alongside Tesla.

GGPI stock forecast

GGPI Stock

Speaking of Tesla, the global EV leader continued to see its stock fall on Monday, as the price has fallen back under the $1,000 price level. The recent lockdowns in Shanghai have shut down Tesla’s only GigaFactory in Asia, and has had a major impact on the company’s production numbers for February and March. With the lockdown in Shanghai still in effect, we could see a trailing decline in April as well, which could have another impact on Tesla’s stock.

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to PremiumSign In

Author

More from Stocks Reporter
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD eyes 1.1800 barrier near two-month highs

EUR/USD extends its gains for the second successive session, trading around 1.1780 during the Asian hours on Tuesday. On the daily chart, technical analysis indicates a persistent bullish bias, as the pair moves upward within the ascending channel pattern. Additionally, the 14-day Relative Strength Index at 68.89 sits near overbought, signaling strong demand. RSI remains elevated, which could cap gains if overbought conditions emerge.

GBP/USD knocks ten-week highs ahead of holiday slowdown

GBP/USD found room on the high side on Monday, kicking off a holiday-shortened trading week with a fresh spat of Greenback weakness, bolstering the Pound Sterling into its highest bids in ten weeks. Pound traders are largely brushing off the latest interest rate cut from the Bank of England as the UK’s central bank policy strategy leaves the water murky for rate-cut watchers.

Gold bulls seem unstoppable amid supportive fundamental backdrop

Gold is seen building on the previous day's strong rally of over 2% and continues scaling new all-time highs for the second consecutive day on Tuesday. The commodity climbs closer to the $4,500 psychological mark during the Asian session and remains well supported by a combination of factors. 

Uniswap holds above $6 as traders eye UNIfication vote outcome

Uniswap price holds above $6 at the time of writing on Tuesday after closing above a key resistance zone in the previous week. Traders are focusing on the highly anticipated UNIfication proposal, which is set to conclude on Thursday, and could become a key near-term catalyst. On the technical side, momentum indicators are flashing bullish signals, hinting at an upside rally.

Ten questions that matter going into 2026

2026 may be less about a neat “base case” and more about a regime shift—the market can reprice what matters most (growth, inflation, fiscal, geopolitics, concentration). The biggest trap is false comfort: the same trades can look defensive… right up until they become crowded.

XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.