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Benzinga
Benzinga
Business
Melanie Schaffer

Gores Guggenheim Soars As Polestar Merger Approaches: Here's How The EV SPAC Looks

Polestar SPAC Nasdaq

Gores Guggenheim Inc (NASDAQ:GGPI) was soaring up more than 13% on Friday, heavily outpacing the general market, which saw the S&P 500 trading up about 0.7%.

The special purpose acquisition company (SPAC) is expected to merge with Polestar this month and list as a public company on the Nasdaq. The merger has garnered interest from traders and investors, especially after Polestar announced on June 9 that it had begun supplying Hertz Global Holdings Inc (NASDAQ:HTZ) with electric vehicles.

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