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

1.20

Mkt cap

2.9B

Volume

4.5M

High

1.30

P/E Ratio

-1.92

52-wk high

2.65

Low

1.20

Div yield

N/A

52-wk low

0.61

Swedish electric vehicle manufacturer Polestar (NASDAQ:PSNY) has partnered with South Korea's leading battery producer, SK On, for the supply of battery cell modules for its upcoming Polestar 5 electric 4-door GT. The decision was influenced by SK On's advanced battery cell technology, which is known for its high-performing chemistry, quick charging, and efficient discharging capabilities. The Polestar 5 is expected to begin production in 2025.

Portfolio Pulse from Benzinga Neuro

November 06, 2023 | 9:41 am

Piper Sandler analyst Alex Potter initiated coverage on Polestar Automotive Holding UK Limited (NASDAQ:PSNY) with an Overweight rating and a price target of $3. The analyst noted that Polestar's focus on premium electric vehicles could support above-average margins despite limiting the size of its addressable market. The company's unique approach of using its key shareholders as production partners could boost ROIC and expedite the launch process. The analyst also highlighted potential risks including Anti-China trade policy, dilutive capital infusions, low liquidity, extreme reliance on Geely/Volvo, competition, rising interest rates, and launch delays.

Portfolio Pulse from Shivani Kumaresan

November 01, 2023 | 7:15 pm

Piper Sandler analyst Alex Potter has initiated coverage on Polestar Automotive (NASDAQ:PSNY) with an Overweight rating and a price target of $3.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 11:07 am

Several consumer discretionary stocks experienced significant movement in Tuesday's after-market session. El Pollo Loco Holdings, Vacasa, Green Brick Partners, Regis, Beachbody Co, and Polestar Automotive saw gains, while Big 5 Sporting Goods, Yum China Holdings, Kidpik, Esports Entertainment, Full House Resorts, and Kaixin Auto Hldgs experienced losses. Q3 earnings for Green Brick Partners, Big 5 Sporting Goods, and Yum China Holdings were released.

Portfolio Pulse from Benzinga Insights

October 31, 2023 | 9:31 pm

The U.S. Treasury's announcement of borrowing $1.592T over six months is causing investors to buy stocks. However, the details of the Treasury's issuance, which could significantly impact yields and bonds, are yet to be announced. Tesla's stock is trading below $200 due to lower than expected earnings from ON Semiconductor Corp, a supplier of silicon carbide chips for electric vehicles, and Panasonic Holdings Corp cutting battery production. This has also impacted other EV stocks and lithium stocks. Earnings from Caterpillar Inc., Pfizer Inc., Amgen, Inc., and BP plc are lower than expected. Bank Of Japan is abandoning strict yield control, which could negatively impact the U.S. stock market in the long term. China's factory activity has returned to contraction, and Eurozone inflation eases.

Portfolio Pulse from The Arora Report

October 31, 2023 | 4:01 pm

Polestar shares are trading lower as EV stocks drop following worse-than-expected Q3 financial results from Tesla.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 7:26 pm

According to the EIA Administrator, electric vehicle sales are projected to reach 2 billion by 2050. Meanwhile, sales of internal combustion engine vehicles are expected to peak between 2027 and 2033.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 2:03 pm

In Wednesday's pre-market session, several consumer discretionary stocks saw significant movement. Tupperware Brands, Elys Game Technology, VOXX International, Color Star Tech, Niu Techs, and Phoenix Motor were among the gainers, with increases ranging from 5.51% to 15.3%. On the other hand, Hall Of Fame Resort, XWELL, Meta Data, Polestar Automotive, Cango, and BTC Digital experienced decreases ranging from 4.92% to 36.7%.

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 1:06 pm

Polestar Automotive Holding Uk Plc (NASDAQ:PSNY) shares dropped by 7.9% after the company filed for a mixed shelf offering of up to $1 billion in stock and warrants. The proceeds will be used for general corporate purposes. Mixed shelf offerings can dilute the ownership stake of existing shareholders, reducing the value per share.

Portfolio Pulse from Henry Khederian

October 11, 2023 | 12:18 pm

Polestar Automotive has filed for a mixed shelf offering of up to $1 billion in stock and warrants, which has led to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 12:18 pm

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