How to buy Polestar stock
If you missed out on Lucid, you may still have an opportunity to “get in early” on the next hot electric vehicle (EV) play. That is, you can if you decide to buy Gores Guggenheim ahead of its planned merger with Sweden-based EV upstart Polestar. The merger is expected to take place in the first half of this year according to Polestar’s official website.
Can I buy Polestar stock?
Currently, Polestar is not a publicly-traded company. However, it did announce the signing of an agreement with Gores Guggenheim, Inc. (NASDAQ: GGPI), a special purpose acquisitions company (SPAC). So, there is no Polestar stock to trade until the SPAC deal mentioned above becomes official. Before the deal is completed, let's find out more about the electric car company and how you can invest in Polestar.
How to buy Polestar (NASDAQ: PSNY) stock
After the merger, Polestar will begin selling stocks on the Nasdaq under the ticker symbol "PSNY." To buy this company’s stock, the interested investor will likely have to wait for the company to start trading in a stock market. So, while you wait for it to become publicly traded, you can buy GGPI stock instead. When the transaction is complete, the GGPI ticker will change to Polestar’s ticker.
How to buy GGPI stock with a Brokerage Account
Right now, you should be able to buy GGPI stock trade on NASDAQ. Today, you can buy shares in companies like Gores Guggenheim fully online through a low-cost (or free) online broker. When you’re comparing brokerages, keep an eye out for commissions charges for stock trades and any significant minimum investment requirements. Most top discount brokers now allow you to buy a fraction of a share and offer zero commission, such as Capital.com, Robinhood, Interactive Brokers and eToro.
Before buying Gores Guggenheim’s stock—or any stock—it’s wise to do some research into the company’s financials, performance, and future outlook. Brokerage companies frequently put out commentary on major stocks and industries, and third-party evaluators like Morningstar provide a comprehensive analysis. You may also turn to experts for their input. Investors often overlook this holistic approach, but the rewards for working with an experienced professional can be substantial.
Should You Buy GGPI Stock?
Polestar is an extremely exciting prospect in the EV space. Backed by Volvo and its corporate parent Geely (OTCMKTS:GELYF), Polestar could earn a market valuation of $25 billion at the high end of expectations.
Polestar delivered just over 10,000 vehicles in 2020. While 2021 saw the company report year-over-year growth of over 185%, successfully delivering over 29,000 vehicles. Planning to operate in 30 countries by 2023, it’s aiming to sell 290,000 vehicles per year by 2025. However, while it has as ambitious a growth goal as Lucid or Rivian, it’s trading at a lower price. Perhaps it could move even higher, depending on what progress Polestar makes with its global expansion.
