Streetbeat News

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

J B Hunt Transport Services Inc reported lower-than-expected Q1 earnings and revenue, leading to a 6% drop in pre-market trading. Other stocks also moved lower, including Qurate Retail, ASML Holding, Capri Holdings, Sage Therapeutics, Urban Outfitters, Polestar Automotive, and Fortuna Silver Mines, due to various negative reports and earnings misses.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 12:07 pm

EV stocks, including LCID, MULN, NIO, and PSNY, are trading lower due to overall market weakness, Middle East tensions, rising yields, and potential layoffs at Tesla affecting the sector.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 7:47 pm

Today's session highlighted significant options activity for 10 consumer discretionary stocks, indicating varied sentiments among traders. Notable movements include bearish put options for TSLA, PSNY, CVNA, and RIVN, and bullish call options for BABA and PDD. Other stocks like DKNG, BYON, CPRI, and AMZN also saw notable options trades, suggesting investors are actively speculating on these stocks' future movements based on market conditions and company performance.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 5:35 pm

Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) shares plummeted 74.2% in pre-market trading after updating on the Phase 3 RAISE Trial and reporting preliminary Q1 2024 financial results with ZTALMY net revenue of $7.4 to $7.6 million. Other stocks also moved lower in pre-market trading: Neumora Therapeutics, Inc. (NASDAQ:NMRA) dropped 17.1% due to an FDA clinical hold, Roadzen, Inc. (NASDAQ:RDZN) fell 14%, Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) declined 11.4% after interim Phase 1/2 data, Cogent Biosciences, Inc. (NASDAQ:COGT) decreased 7.7%, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) dropped 7.2%, Molina Healthcare, Inc. (NYSE:MOH) fell 7.1%, and TORM plc (NASDAQ:TRMD) slipped 3.1%.

Portfolio Pulse from Avi Kapoor

April 15, 2024 | 12:19 pm

Medical Properties Trust, Inc. (MPW) shares surged 13.1% in pre-market trading after selling its majority interest in Utah Hospitals. Other stocks also showed significant movement in pre-market trading, with notable gainers including Allarity Therapeutics, Inc. (ALLR), Longeveron Inc. (LGVN), and Piedmont Lithium Inc. (PLL), among others. Conversely, several stocks experienced declines, such as AudioEye, Inc. (AEYE), NextPlat Corp (NXPL), and Polestar Automotive Holding Uk Plc (PSNY), driven by various company-specific news and analyst actions.

Portfolio Pulse from Avi Kapoor

April 15, 2024 | 9:45 am

Cantor Fitzgerald analyst Andres Sheppard has reiterated an Overweight rating on Polestar Automotive (NASDAQ:PSNY) and maintained a $5 price target.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 1:44 pm

Ohio Senator Sherrod Brown has called on President Biden to implement a permanent ban on electric vehicles (EVs) produced by Chinese companies, according to a letter cited by Reuters. This move could significantly impact the competitive landscape for EVs in the U.S., potentially affecting companies involved in the EV sector, including those with ties to China as well as U.S.-based EV manufacturers.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 8:23 pm

Polestar's shares are trading lower following the report of their global Q1 volumes.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 2:38 pm

Polestar anticipates its expanding luxury SUV lineup, including the Polestar 4's production shift to South Korea in H2 2025, to enhance revenue and margins, aligning with its 2025 financial goals. This move aims to boost profitability in crucial markets such as the US.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 11:11 am

Polestar announced the delivery of approximately 7,200 cars in Q1, including 1,200 Polestar 4 models in China. Geely Holdings has become a major shareholder with a 24% stake, while Volvo Cars retains an 18% stake. The company's free float will increase to about 18%. Production of Polestar 3 has begun in China, with plans to start production in the USA in summer 2024.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 11:10 am

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