GGPI Stock News: Gores Guggenheim edges higher even as EV stocks tumble lower

NASDAQ: GGPI did not succumb to the market volatility on Thursday, as the pre-merger SPAC stock managed to eke out a small gain during an otherwise turbulent session. Shares of GGPI gained 0.90% and closed the trading day at $11.16. All three major indices fell lower on Thursday, erasing most of their gains from the previous day. Investors weighed on rising oil prices and treasury yields, as well as the worsening situation in Ukraine. The NASDAQ fell hardest as the tech-heavy index dropped by 1.56%, while the S&P 500 fell by 0.53%, and the Dow Jones dipped by 96 basis points. 

Polestar saw a major boost in its German sales in February as the company saw a 250% rise during the month. The rise actually outpaced Tesla’s (NASDAQ: TSLA) 210% rise during February, although not surprisingly Tesla sold a much higher volume of vehicles than Polestar did. Electric vehicles in general rose 55% year over year to 28,306 vehicles, good enough for a 14.1% market share of the German auto market. Sales of Ford (NYSE: F) actually fell by 12% in Germany, as did domestic favorite Volkswagen which dropped by 8% during the month.

Gores Guggenheim stock price

In other EV news, newly public Rivian (NASDAQ: RIVN) learned a valuable lesson this week after initially ordering a price raise, even for customers who were already on the waiting list. Shares fell more than 13% following the announcement, and while Rivian did backtrack on this Thursday, shares still fell a further 4.95% to hit a new record low price of $50.91 to close the day.