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PSNY

Polestar Automotive Holding UK PLC

https://www.polestar.com

Industry

Auto - Manufacturers

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.

Open

1.21

Mkt cap

2.5B

Volume

4.2M

High

1.22

P/E Ratio

-1.73

52-wk high

2.65

Low

1.13

Div yield

N/A

52-wk low

0.61

Mixed sentiment in the EV sector was influenced by Tesla's lowered delivery estimates and broader market concerns. Tesla faces challenges but sees opportunities in India with new EV policies. Fisker's bankruptcy rumors caused a significant stock drop. Rivian received a positive upgrade from Piper Sandler. Polestar announced a price cut for its upcoming SUV. The KraneShares Electric Vehicles ETF saw a slight increase.

Portfolio Pulse from Shanthi Rexaline

March 16, 2024 | 2:42 pm

Piper Sandler analyst Alexander Potter downgraded Polestar Automotive Holding (NASDAQ:PSNY) from Overweight to Neutral and lowered the price target from $3 to $2 due to concerns over EV price wars and anti-China sentiment in Europe. Potter highlighted the challenges Polestar faces, including the potential impact of tariffs on Chinese-made EVs and the critical importance of the success of the newly-launched Polestar 3 and 4 SUVs for the company's future. Despite liking Polestar's designs, the analyst is concerned about the company's high price points and the possibility of production relocation to avoid tariffs, which could jeopardize its 2025 financial targets.

Portfolio Pulse from Chris Katje

March 15, 2024 | 3:44 pm

Piper Sandler analyst Alex Potter downgraded Polestar Automotive (NASDAQ:PSNY) from Overweight to Neutral and reduced the price target from $3 to $2.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 8:47 am

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) reduced the starting price of its Polestar 3 SUV in the U.S. by about 13% to $73,400, aiming to boost demand and compete with Tesla's Model X and Rivian's R1S. Deliveries are expected to start in Q2 this year, following production commencement in Chengdu, China. Despite a 41% revenue increase, Polestar reported a Q3 operating loss of $261.2 million and fell short of its 60,000 delivery target last year.

Portfolio Pulse from Anan Ashraf

March 14, 2024 | 6:43 am

Polestar is offering a discount of 60,000 Yuan for its Polestar 4 models in China, as announced in a Weibo post. This move could be aimed at boosting sales and market penetration in the competitive Chinese electric vehicle market.

Portfolio Pulse from Charles Gross

March 07, 2024 | 12:18 pm

Tesla Inc (NASDAQ:TSLA) announced it will open its supercharger network in North America to Rivian Automotive (NASDAQ:RIVN), General Motors (NYSE:GM), Volvo Car (OTCPK: VLVCY), and Polestar Automotive (NASDAQ:PSNY) starting spring this year. This expansion follows Tesla's inclusion of Ford Motor Co vehicles. The network, comprising three out of every four fast chargers in the region, will initially require an adapter for non-Tesla vehicles, with plans to adopt Tesla's charging standard in the future. Non-Tesla vehicle owners can access charging at Tesla rates through a supercharging membership.

Portfolio Pulse from Anan Ashraf

March 01, 2024 | 4:04 am

Polestar's stock price increased following the announcement that Nanjing Jiangning Economic and Technological Development Zone Industrial Equity Investment Partnership will invest about $208.4 million in its joint venture.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:05 pm

Polestar (PSNY) announced that Nanjing Jiangning Economic and Technological Development Zone Industrial Equity Investment Partnership will purchase shares of its joint venture for $208.4M USD.

Portfolio Pulse from Charles Gross

February 29, 2024 | 11:22 am

Numerous companies are scheduled to report their earnings on February 29, 2024, covering a wide range of industries from technology to healthcare. This includes both expected quarterly profits and losses, with significant revenues anticipated for some. The diversity of sectors represented, from energy to financial services, highlights the broad economic implications of these reports.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 10:15 am

Polestar Automotive Holding UK Limited (NASDAQ:PSNY) shares surged after announcing a $950 million loan from 12 international banks, aimed at financing its next development stage. The company is also reducing its workforce by 10% in mid-2023 and an additional 15% in 2024 to improve efficiency. CEO Thomas Ingenlath highlighted the support from partners and Geely, aiming for cash flow break-even by 2025. Polestar is expected to report Q4 financial results with estimated losses of 15 cents per share and revenue of $756.514 million.

Portfolio Pulse from Erica Kollmann

February 28, 2024 | 8:46 pm

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