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

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Portfolio Pulse from Lisa Levin

August 31, 2023 | 4:50 pm

Goldman Sachs' fintech unit is under scrutiny by U.S. banking regulators due to compliance and risk issues. Microsoft is unbundling its Teams app from its productivity suite due to an EU antitrust probe. UBS recorded a Q2 profit of $29B, largely due to goodwill, and plans to cut 3K jobs in Switzerland. American Airlines flight attendants have voted to authorize a potential strike. Airbus and Korea Aerospace have partnered for mass production of light armed helicopters. Google's Fitbit is facing GDPR violation complaints in multiple countries. Boeing paused operations in South Carolina due to Hurricane Idalia. Campbell Soup, Signet Jewelers, and UBS reported better than expected earnings, while Dollar General, Hormel Foods, and Polestar Automotive reported worse than expected earnings.

Portfolio Pulse from Vandana Singh

August 31, 2023 | 1:57 pm

Polestar Automotive Holding UK's shares are trading lower after the company missed second-quarter analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 1:16 pm

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) reported Q2 FY23 sales growth of 16% YoY, to $685.2 million, missing the consensus of $756.2 million. The company delivered 15,765 vehicles during Q2, a growth of 36% YoY. However, the gross loss was $(0.8) million versus $60.7 million a year ago due to higher manufacturing costs and supplier charges. The company expects to deliver 60,000-70,000 vehicles and a gross margin of 4% in 2023. PSNY stock has lost 28% YTD.

Portfolio Pulse from Anusuya Lahiri

August 31, 2023 | 1:09 pm

Polestar, a Swedish electric vehicle manufacturer, expects to deliver between 60,000 and 70,000 vehicles in 2023, with a gross margin of 4%. PSNY, the SPAC that is taking Polestar public, is directly mentioned in the article.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 11:06 am

Polestar, a Swedish electric vehicle manufacturer, reported Q2 deliveries of 15,765 vehicles, marking a 36% increase year-over-year. The company's global deliveries for the first half of the year totaled 27,841.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 11:04 am

Polestar Automotive (NASDAQ:PSNY) reported Q2 earnings per share (EPS) of $(0.14), missing the analyst consensus estimate of $(0.12) by 16.67%. The company also reported quarterly sales of $685.25 million, missing the analyst consensus estimate of $756.15 million by 9.38%. This represents a 16.67% decrease in EPS and a 16.33% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 11:03 am

Electric vehicle (EV) stocks had a mixed performance in the week ended Aug. 25. Tesla's stock rose by 10.72% following Elon Musk's Cybertruck teasers and the upcoming launch of the refreshed Model 3 vehicle. Lucid Group's price cuts have been well received by customers and the market, according to CEO Peter Rawlinson. Polestar Automotive achieved a production milestone of 150,000 vehicles and announced a partnership with Mobileye Global for autonomous driving technology. Ford is offering incentives and lease options for its Mach-E crossover SUV EV in the U.S. Faraday Future effected a 1-for-80 reverse stock split.

Portfolio Pulse from Shanthi Rexaline

August 26, 2023 | 2:56 pm

Polestar Automotive Holding UK PLC (PSNY) has partnered with Mobileye Global Inc (MBLY) to integrate autonomous technology into Polestar 4 using the Mobileye Chauffeur AV platform. The technology will offer hands-off and eyes-off autonomous driving on highways. Polestar 4, featuring a Mobileye SuperVision-based advanced driver assistance system, goes on sale in China today and will be available globally in 2024.

Portfolio Pulse from Shivani Kumaresan

August 25, 2023 | 2:29 pm

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) announced that it has produced 150,000 Polestar 2 electric vehicles (EVs) since the model went into production in 2020. The company also reported a 170% increase in vehicle sales for the year until the end of July compared to the same period last year. In addition, Polestar has started deliveries of its upgraded Polestar 2, which features improved software, better quality, longer range, and faster charging.

Portfolio Pulse from Anan Ashraf

August 24, 2023 | 6:00 am

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