GGPI Stock News: Gores Guggenheim falls further as Chinese EV stocks feel the wrath of the SEC
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 fell by 0.82% during Friday’s trading session.
- The SEC clamps down on Chinese ADR stocks.
- Volvo sets up an electric vehicle technology hub in Stockholm.
NASDAQ:GGPI had a bearish close to the week after rising for the first three sessions. On Friday, shares of GGPI fell a further 0.82% and closed the trading week at $10.89. Electric vehicle stocks were in freefall on Friday, and it had a lot to do with the fact that the NASDAQ dropped by a further 2.18% to close out a bearish week for the index. The Dow Jones posted its fifth straight losing week as the blue-chip index continues to get hit by volatile commodities prices. The S&P 500 closed the session lower as well as the benchmark index dropped by 2.84% during the week.
Also read: AMC Stock Price: AMC Entertainment on target to break $10
An SEC report that found five Chinese ADR companies had not provided American auditors with their financial records. While electric vehicle makers were not among them, they were some of the hardest hit stocks on Friday. Polestar parent company Geely saw most of its competitors deep in the red as Nio (NYSE:NIO) fell by 9.52%, XPeng (NYSE:XPEV) dropped by 12.12%, and Li Auto (NASDAQ:LI) tumbled by 14.70%. Nio has been especially hard hit this week after listing on the Hong Kong stock exchange, prompting American investors to grow concerned over the company delisting from the NYSE in the future.
Stay up to speed with hot stocks' news!
Gores Guggenheim stock price
Polestar’s top stakeholder, Volvo, has announced it is setting up a technology hub to support its ongoing transition to a fully electric automaker. The new hub will be established in Stockholm and be home to software developers and data analysts, who will be working on advancing Volvo’s electric vehicle lineup. It will be home to over 700 Volvo employees and help the automaker reach a 50% level of electric vehicle sales by 2025.
Like this article? Help us with some feedback by answering this survey:
- NASDAQ:GGPI fell by 0.82% during Friday’s trading session.
- The SEC clamps down on Chinese ADR stocks.
- Volvo sets up an electric vehicle technology hub in Stockholm.
NASDAQ:GGPI had a bearish close to the week after rising for the first three sessions. On Friday, shares of GGPI fell a further 0.82% and closed the trading week at $10.89. Electric vehicle stocks were in freefall on Friday, and it had a lot to do with the fact that the NASDAQ dropped by a further 2.18% to close out a bearish week for the index. The Dow Jones posted its fifth straight losing week as the blue-chip index continues to get hit by volatile commodities prices. The S&P 500 closed the session lower as well as the benchmark index dropped by 2.84% during the week.
Also read: AMC Stock Price: AMC Entertainment on target to break $10
An SEC report that found five Chinese ADR companies had not provided American auditors with their financial records. While electric vehicle makers were not among them, they were some of the hardest hit stocks on Friday. Polestar parent company Geely saw most of its competitors deep in the red as Nio (NYSE:NIO) fell by 9.52%, XPeng (NYSE:XPEV) dropped by 12.12%, and Li Auto (NASDAQ:LI) tumbled by 14.70%. Nio has been especially hard hit this week after listing on the Hong Kong stock exchange, prompting American investors to grow concerned over the company delisting from the NYSE in the future.
Stay up to speed with hot stocks' news!
Gores Guggenheim stock price
Polestar’s top stakeholder, Volvo, has announced it is setting up a technology hub to support its ongoing transition to a fully electric automaker. The new hub will be established in Stockholm and be home to software developers and data analysts, who will be working on advancing Volvo’s electric vehicle lineup. It will be home to over 700 Volvo employees and help the automaker reach a 50% level of electric vehicle sales by 2025.
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.