GGPI Stock News: Gores Guggenheim gains as EV stocks turn higher to close the month
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 Premium without limits for only $479.76 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- NASDAQ:GGPI gained 1.47% during Monday’s trading session.
- Lucid reports its quarterly earnings after the closing bell.
- Tesla soars after announcing Berlin GigaFactory’s grand opening.
NASDAQ:GGPI managed to have a positive month in February as the pre-merger SPAC stock gained 5.6% during the tumultuous month. On Monday, shares of GGPI gained 1.47% and closed the trading session at $11.06. There wasn’t any specific company news from Polestar to start the week, but strength across the EV sector pushed GGPI’s stock higher. The NASDAQ was the only major index to close the session in the green as the tech-heavy index gained 0.41% during the session. The Dow Jones dropped by 166 basis points, while the S&P 500 capped off a negative month in February with a 0.24% loss.
Stay up to speed with hot stocks' news!
As GGPI awaits a merger date with Polestar, another former EV SPAC, Lucid Group (NASDAQ:LCID), reported its quarterly earnings on Monday after the markets closed. Without sugar coating, it was another disappointing quarter for the luxury EV maker as Lucid missed badly on revenues and reported wider than expected losses. Perhaps the worst part of Lucid’s call was when the company slashed its 2022 delivery numbers from 20,000 to between 12,000 and 14,000. Needless to say, shares of LCID were down by more than 14% in after hours trading.
Gores Guggenheim stock price
The EV sector was raised higher on Monday after a major announcement from industry leader Tesla (NASDAQ:TSLA). Over the weekend, Tesla announced that its Berlin GigaFactory will officially be opened in March. This conflicts with previous reports that the water supply for the factory is in question as environmentalists will be appearing in German Court on March 4th to determine whether or not Tesla received its water utility license without the German authorities conducting sufficient reviews. Shares of TSLA were up 7.48% on Monday.
Like this article? Help us with some feedback by answering this survey:
- NASDAQ:GGPI gained 1.47% during Monday’s trading session.
- Lucid reports its quarterly earnings after the closing bell.
- Tesla soars after announcing Berlin GigaFactory’s grand opening.
NASDAQ:GGPI managed to have a positive month in February as the pre-merger SPAC stock gained 5.6% during the tumultuous month. On Monday, shares of GGPI gained 1.47% and closed the trading session at $11.06. There wasn’t any specific company news from Polestar to start the week, but strength across the EV sector pushed GGPI’s stock higher. The NASDAQ was the only major index to close the session in the green as the tech-heavy index gained 0.41% during the session. The Dow Jones dropped by 166 basis points, while the S&P 500 capped off a negative month in February with a 0.24% loss.
Stay up to speed with hot stocks' news!
As GGPI awaits a merger date with Polestar, another former EV SPAC, Lucid Group (NASDAQ:LCID), reported its quarterly earnings on Monday after the markets closed. Without sugar coating, it was another disappointing quarter for the luxury EV maker as Lucid missed badly on revenues and reported wider than expected losses. Perhaps the worst part of Lucid’s call was when the company slashed its 2022 delivery numbers from 20,000 to between 12,000 and 14,000. Needless to say, shares of LCID were down by more than 14% in after hours trading.
Gores Guggenheim stock price
The EV sector was raised higher on Monday after a major announcement from industry leader Tesla (NASDAQ:TSLA). Over the weekend, Tesla announced that its Berlin GigaFactory will officially be opened in March. This conflicts with previous reports that the water supply for the factory is in question as environmentalists will be appearing in German Court on March 4th to determine whether or not Tesla received its water utility license without the German authorities conducting sufficient reviews. Shares of TSLA were up 7.48% on Monday.
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.