Gores Guggenheim Inc GGPI stock has been falling for the past 12 months. Using InvestorsObserver’s proprietary ranking system, the stock currently has a score of 44 out of 100. The stock has a short-term technical score of 59 and a long-term technical score of 73. It’s important to note that the stock has experienced a sell signal on the 3 month Moving Average Convergence Divergence.
GGPI stock is up 10.6% as of Friday’s close
GGPI stock has risen in the past week and is up nearly 10% at the time of writing. However, the stock is down 18.6% year-to-date. The stock has underperformed a lot of its peers. It has been trading near its pro-forma post-merger enterprise value of $20 billion, while trading at only about $10 per share. This is a big discount to its peers, which have already achieved a twenty-fold or higher sales multiple.
GGPI stock has a sell signal from the 3 month Moving Average Convergence Divergence
The stock has given a 3 month MACD sell signal. While the stock has not experienced a significant price change for the last day, the volume has dropped. While a low volume can be a warning, it also limits the potential gains from other technical indicators. This sell signal should be treated with caution. As the stock has experienced a range-bound price action lately, the stock may move in a new direction._finance
GGPI stock has a beta of 0.52
The GGPI stock has a beta of 0.52, which indicates that it is less sensitive to market movements than the SPY ETF. GGPI stock has outperformed the market in the last year, returning +13.4% versus a decline of -5.3% for SPY. In the last three months, GGPI shares gained +5.1%, compared with the SPY’s -0.3% gain. Nevertheless, GGPI stock has been underperforming the stock market over the last 2 weeks, so investors should be very careful in deciding whether to buy the stock.
GGPI stock is down 18% since the start of the year
GGPI stock has been a mixed bag so far in 2017. It started off on the back foot following last week’s Fed rate hike, which heightened risks of recession. It has also been down since the company confirmed it would hold a special meeting on June 22, where shareholders will vote on the proposed merger with Polestar. Fortunately, a post-Fed rally has helped restore GGPI’s valuation to its start-of-year high of $13 a share.
GGPI stock has a pro-forma post-merger enterprise value of about $20 billion
In the weeks leading up to the acquisition, GGPI shares dropped on the back of the Fed’s rate hike and confirmation of an upcoming special meeting where shareholders will vote on the proposed merger with Polestar. While has rallied since late Friday, it is still below its year-to-date high of around $13 per share.
GGPI stock is a good investment
GGPI shares have slid 10.4% since mid-March. The stock has recently broken through support, but it could still fall more. Investors should consider the risk before purchasing, even if the metric doesn’t tell you it’s a good investment today. In other words, they should buy only when the time is right. If a metric were to tell you to buy a stock today, then you would be disappointed.knife talk lyrics.