So Why is GGPI stock on the move today?
If you've been watching the markets
today, then you will know the ggpi stock
has rocketed up over 12% today on the
back of some fantastic news!
Today, Polestar signed a deal with global
car rental firm: hertz (HTZ)
for the sale of thousands of Polestar EV's
over the next five years. This is the
second biggest ev contract that hertz
have ever signed and the largest
contract to date for Polestar.
In this video i will discuss this and
much more, (tesla stock news)
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in recent weeks we've seen huge gains
Nio (nasdaq:nio) is up over 60% from dropping to its
low point last month.
microvision (nasdaq:mvis) is up over 70% since january
and matterport (nasdaq:mttr) is playing out exactly
like i said it would over in the patreon
group back in january and is up 40% since
then. (Nasdaq:GGPI)
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As always this is not financial advice i
encourage everyone to do your own due
diligence now let's get into it
i'm sure everyone watching this video is
already well aware of what this stock is
about
ggpi is a special purpose acquisition
company and will be merging with swedish
ev maker polestar very soon.
in fact i made a video about this just
yesterday so for anyone who wants to
take a look at this check this video out
there's a link in the description or you
can click on the card at the end of this
video
in terms of global
ev manufacturers polestar is right up
there in terms of market size and sales
so far
unlike most ev startups that have yet to
put a car on the road
polster have been in production for
quite a while and last year sold 29,000
vehicles now although those numbers are
still small
their growth rate is about to explode
soon which i will look at in just a
moment. But first:
Why is GGPI share price going up?
Today hertz global holdings announced
plans to buy 65,000
electric vehicles from Polestar over the
next five years. now although sixty five
thousand ev's over five years is not a
massive amount just remember that this
is
only one contract
for a single customer this is a huge
deal
holster sold 29 000 units last year and
it's estimating 65 000 in 2022 so to
have one contract for 65 000 is like
having a whole year's worth of sales
this is not the first ev deal that hertz
has signed these 65 000 dvs will join
the 100 000 teslas that hertz has said
it's buying for more than four billion
dollars
if you remember the deal between hertz
and tesla that was announced back in
november and gave a boost to tesla share
price at the time bringing tesla from
less than 900 in late october up to its
all-time high
of 1 240.
now there is a lot of evs out there that
will be producing vehicles over the next
five years and a lot of ice
manufacturers that are seriously
adopting electric
parts did have a lot of choice
they could have went with ford or nissan
volkswagen or even audi but they chose
to go with Polestar first tesla and then
posed air this shows the level that this
company is really at the tesla and
post-air purchases give hertz a steady
stream of some of the most coveted
battery-powered cares
as i said already holster expects the
double sales this year delivering 65 000
vehicles globally
but paul stash plans to produce
290 000 evs by 2025.
a tally that tesla now reaches in less
than three months now this just goes to
show how far ahead of everyone else that
tesla really is but remember bolster has
a valuation now of less than 25 billion
dollars whereas tesla has a valuation of
over one trillion dollars the two deals
represent roughly a third of hertz
current fleet
an influx of vehicles that their ceo
says will help win business from
corporate clients and environmental
objectives
for polls there the hertz order provides
a sizeable dependable stream of revenue
while it's still pushing to open
dealerships the company has 125
showrooms around the world according to
Polestar ceo thomas ingelat customers will
be experiencing Polestar in different
situations than an ordinary test drive
can offer and for a new brand like
posedair to gain access and visibility
in the broader market it's a huge
opportunity
although hurts and Polestar didn't share
the financial terms of the purchase
considering that the starting price of
the post air 2 is 45 000
this means that this deal would generate
almost 3 billion in revenue if hertz
pays at or close to that price
now interesting it says
here parts have said that in time its
global fleet of cars is roughly half a
million vehicles
will be electric and it intends to work
with every ev maker on the market to
make that happen so there is a big
possibility here that this could lead to
further big contracts down the road and
considering that car rental companies
like hertz update inventory quite
regularly
then there could be a lot of future
business
overall the announcement bolsters post
air as it prepares the debut on the
public markets this quarter
via a reverse merger with gore's
guggenheim
and there has been a big update
regarding this over the past few days
although there has been no official
press release from either gore's
guggenheim or polstar yet if we look at
the recent sec filings for gore's
guggenheim we can see that
last week on march 28th the company
filed the form
at 4a
now this is the fourth amendment to the
form f4 which is hundreds of pages long
but there is a very important section
just here
a notice of stockholders special meeting
to be held for 2022
now there is no date issued on this form
which is unusual and instead there is a
url link which brings you to this
website and we can see here that the
special meeting of stockholders 2022 is
set from monday may 16th so this is a
huge date for shareholders now with this
being the fourth amendment to this form
this will need to be accepted by the sec
but then the shareholders meeting will
take place and there will be a vote
to approve the merger i fully expect
that there will be no issues with this
at all and as long as the merger is
approved it could happen
as soon as the following day
with this meeting being scheduled for a
monday i would fully expect that post
there will be nasdaq listed during that
week
so i will be keeping an eye on the ggpi
sec filings over the coming weeks to
stay up to date
and as i promised in yesterday's video i
will try to keep everyone updated with
every development that comes along as
soon as i see it so guys what do you
think of this news
just look at the effect that it's had on
the share price today of both ggpi and
hertz
hertz gained over 11
and ggpi is up over 12
with volume traded for ggpi stock being
over 20 million shares today which is
fair above the 30 day average of only 3
million shares
so what do you expect in the coming
weeks as we draw closer to the
shareholders meeting
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as always this is not financial advice i
encourage everyone to do your own due
diligence and only invest money that you
can afford to
i will be making update videos as we get
more news so if you're new subscribe to
the channel and i'll catch you in the
next update video