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0.00243780148342811 0.0083161880392122 0.0128114248171649 0.0221476858175279 0.0193813862618647 0.0256055602621068 -0.0044779474057297 -0.0072442469613929
Stock impact report

A New EV Company Arrives This Week. It's Worth More Than Rivian. [MarketWatch]

Rivian Automotive, Inc. (RIVN) 
Company Research Source: MarketWatch
Polestar agreed to merge with a special purpose acquisition company, or SPAC, Gores Guggenheim (GGPI) back in September 2021 . Now the merger process is nearly wrapped up. The deadline for shareholders to vote on the merger is Thursday and, if all goes as expected, Polestar will be trading on Friday. Investors who hold Gores will end up holding Polestar under the new stock symbol “PSNY.” The deal values Polestar at about $21 billion based on the roughly 2.1 billion shares outstanding after the deal closes. That is about $20 billion net of the roughly $1 billion the merger will bring onto Polestar's books. That enterprise value is more than Rivian Automotive (RIVN). Rivian's market cap is about $27 billion, but the value of the Rivian enterprise—its market cap adjusted for cash and debt—is roughly $12 billion. The market is treating Polestar like a serious EV player. There are some good reasons for that. For starters, the company is shipping cars. Polestar shipped about 13,6 Show less Read more
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