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Polestar stock is not yet available to purchase on any exchange. But it's expected to go public soon. Here's what we know — and how to buy in when it launches.
Polestar, a Sweden-based electric car manufacturer acquired by Volvo in 2015, has filed a business combination agreement with the US Securities and Exchange Commission (SEC) to go public by merging with Gores Guggenheim, Inc., a special purpose acquisitions company (SPAC).
Gores Guggenheim currently trades on the Nasdaq under the ticker symbol "GGPI." After the merger, Polestar will begin selling stocks on the Nasdaq under the ticker symbol "PSNY." There is speculation that the deal could take place in the first half of 2022.
Polestar is expected to earn $800 million from the merger plus an additional $250 million in PIPE investments. It stands to earn a market valuation of $25 billion. Other details like the exact date of the transaction and the size of the offering have not yet been announced.
SPACs, or "blank check" companies, exist purely on paper for the purpose of going public, raising capital and merging with another company. Going public by merging with an SPAC is both quicker and easier than the traditional IPO process.
We'll update this page as more information becomes available.
Once Polestar goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Polestar can be useful in determining how the market is performing and whether now is a good time to invest in this industry. Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.
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