Gores Guggenheim stock (GGPI) is the number one trending stock on Monday morning across various social media sites despite an apparent lack of definit
GGPI stock not showing any sign of concrete news flow, so this may be another retail move. is the number one trending stock on Monday morning across various social media sites despite an apparent lack of definitive news flow this morning. That has not stopped retail investors targeting the name who seem to be quite bullish on GGPI stock so far. Why so?GGPI is the SPAC mechanism taking Polestar public. Polestar is an electric vehicle manufacturer.
Polestar also benefitted from this attention and saw its share price rally from $10 to $16 in November. Polestar does have some strong backers of its own, most notably Volvo. It is for this reason primarily that your author holds shares in the stock. As mentioned, EV production is costly and requires huge amounts of capital. We have seen how quickly other EV makers are burning through cash to even get to the production stage.
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.
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