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Dare to Invest in a Potential Tesla Killer with GGPI Stock

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Ready to take the test in an exciting electric vehicle (EV) stock of a special purpose acquisition company (SPAC)? If so, then feel free to check Guggenheim argues (NASDAQ:GGPI). It’s just a shell company, but as a GGPI stockholder, you’re really investing in a Swedish EV manufacturer Fullstar.

Source: Dmitry Demidovich / ShutterStock.com

Now, some of you might want to know why someone should invest in Polestar, when he can just buy shares of Tesla (NASDAQ:TSLA). After all, Tesla is a much more famous and established company.

This is the right question. However, it can be argued that finding the “next Tesla” means investing in an EV startup maker while it is still in the early stages of development.

Besides, recently released data suggests that Polestar can surpass Tesla in at least one important sense. Tesla fans probably won’t want to hear about it, but Polestar could pose a bigger and more competitive EV threat.

A closer look at the GGPI stock

Let’s get back to the beginning, says Guggenheim Went out to the public With its initial public offering (IPO) in March.

Before the Merger Transaction Notice With Polestar, the GGPI stock traded close to $ 10. However, you can probably guess what happened after the SPAC business combination was revealed.

Of course, the stock has become parabolic. The rise, however, was short-lived, as the Gors Guggenheim / Polstar share price reached $ 16.41 on November 16.

This was probably a case of “too much, too fast” as GGPI stock collapsed in late November and for much of December.

By Dec. 22, the stock had fallen all the way to $ 11 and changed, though it seems to be curling up a bit.

This is not the result that Polstar fans have been hoping for, without a doubt. However, there is a possible investment opportunity here because the stock price is much lower than its previous peak price.

Watch out, Tesla

To get started, let’s clarify one thing. Polestar CEO Thomas Inglath clarified that Polestar Does not intend to be a “Tesla killer.”

However, maybe the CEO is just modest. It is quite possible that Polstar will steal some of the market from Tesla.

Just to sum up, Polestar offers a hybrid performance car called Polestar 1 and Polestar 2 fully electric. Currently on the roads Across Europe, Asia and North America.

What’s more, Polestar has unveiled a luxury sports car called the Polestar 5, and also released a teaser image of the Polestar 3, which is likely to be “Prestigious aerial vehicle.”

But let’s be honest here – the biggest threat to Tesla, and to the EV market in general, is the Polestar 2.

This vehicle model Properties All-wheel drive and towing capacity of up to 2,000 pounds. Moreover, it can go from zero to 60 miles per hour (km / h) in just 4.5 seconds.

Elon will not like it

Undoubtedly, Tesla CEO Elon Musk is proud of the range of travel of his vehicles. However, there is a carrier that can go foot to toe with Tesla – and the data proves it.

Amazingly, the Polestar 2 Long Range Single won Estimated range for each charge Of 270 miles by the U.S. Environmental Protection Agency (EPA).

“We are pleased to announce the longest range of any Polestar to date,” said Gregor Hambro, head of Polestar in North America.

Meanwhile, a standard-range Tesla Model Y gets around 244 miles to load. Hence, this particular model of Polestar 2 is the clear winner.

There may be a “bigger better” dynamic here. Model Y in the standard range comes with a 50 kilowatt-hour battery pack. In contrast, the larger Polestar 2 battery pack provides 78 kilowatt hours.

Bottom line

I hope I did not hurt the army of Tesla fans outside. Both Tesla and Polstar are viable EV manufacturers for investors.

It may be true that Polstar’s CEO is unwilling to call his company a “Tesla killer.” However, Polestar could pose a serious threat because its vehicles are elegant and powerful.

Therefore, even if Polstar does not “kill” Tesla, the GGPI stock offers an option to enter the ground floor of what may be the 2022 Tesla.

At the date of publication, David Model There were not (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Advertising guidelines.

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