- NASDAQ:GGPI fell by 0.20% during Monday’s trading session.
- Polestar has introduced a referral system for customers.
- Tesla CEO Elon Musk backtracks on his comments cutting 10% of the workforce.
NASDAQ:GGPI remains anchored to the $10.00 pre-SPAC NAV price less than three weeks out from the vote for its merger with Polestar. On Monday, shares of GGPI edged lower by 0.20% and closed the trading day at $10.03. US markets had difficulty finding direction on Monday, although all three major averages managed to close the day higher to start the week. The Dow Jones inched higher by 16 basis points, while the S&P 500 and NASDAQ added 0.31% and 0.40% respectively during the session.
Stay up to speed with hot stocks' news!
Polestar has announced that it will be introducing a customer referral program similar to the one Tesla (NASDAQ:TSLA) had for its early adopters. Unfortunately for Polestar owners, it won’t be as lucrative as the $1,000 or even free vehicles that Tesla offered in its early days. Polestar’s referral program will mostly be in the form of charging credits for existing users, although US owners look like they will be receiving a bundle of Google products to use at home. While it’s hard to compare with what Tesla once offered, it is certainly a step in the right direction for Polestar who are trying to penetrate the US market which has so far been dominated by Tesla.
GGPI stock price
Speaking of Tesla, CEO Elon Musk backtracked on his comments of reducing his workforce by 10% last week. The comments on Friday caused shares of Tesla to drop by nearly 10%. Since then, Musk corrected the claim, citing that Tesla will be actually adding workers this year but potentially reducing its total salary count. This means it is likely executives and office workers that will be cut from the company.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD consolidates its recent substantial gains to over one-week high
AUD/USD holds steady above the 0.6300 mark during the Asian session on Tuesday and remains close to a one-and-half-week top touched the previous day. The USD finds some support following the recent sell-off and caps the pair near the 100-day SMA amid the escalating US-China trade war.
USD/JPY trades with positive bias above 143.00; upside potential seems limited
USD/JPY gains some positive traction on Tuesday and now seems to have snapped a three day losing streak to a multi-month low touched last week. The upbeat market mood undermines the safe-haven JPY and lends support amid a modest USD uptick.
Gold price holds steady above $3,200; remains close to all-time peak
Gold price trades above the $3,200 mark following the previous day's modest pullback from a fresh record high as the escalating US-China trade war continues to underpin the safe-haven bullion. Moreover, the Fed rate cut bets lend support to the XAU/USD.
Solana ETF to debut in Canada after approval from regulators
Solana ETF will go live in Canada this week after the Ontario Securities Commission greenlighted applications from Purpose, Evolve, CI and 3iQ. The products will allow staking, enabling investors to earn yield on their holdings.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.