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

Polestar reported a significant increase in car deliveries in Q2 2024, with a rise of 82% quarter-over-quarter, totaling 13,150 cars. The company is optimistic about a stronger second half of the year, especially in Q4, driven by sales of two premium SUVs. Polestar's cash and cash equivalents stood at $669 million as of June 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 11:14 am

Polestar Automotive's stock is down 14.6% following the announcement of Michael Lohscheller as the new CEO, effective October 2024. Lohscheller, with experience at Opel, VinFast, and Nikola, will succeed Thomas Ingenlath. The company aims to expand its global presence in the premium EV market. PSNY stock has lost over 70% in the past year, and investors can gain exposure through the SPDR S&P Kensho Smart Mobility ETF (HAIL).

Portfolio Pulse from Lekha Gupta

August 28, 2024 | 3:07 pm

Polestar Automotive shares are trading lower following the announcement of a new CEO.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 2:10 pm

Polestar has appointed Michael Lohscheller as its new CEO, effective October 1, 2024. This leadership change could influence the company's strategic direction and operational focus.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 6:50 am

Canada's Prime Minister Trudeau has announced a 100% tariff on Chinese electric vehicle imports and a 25% tariff on Chinese aluminum and steel. This move could impact companies involved in the production and import of these goods.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 12:39 pm

Shares of electric vehicle (EV) companies are experiencing an uptick due to positive market sentiment following comments from Fed Chair Powell regarding the economy and potential future rate cuts.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 5:10 pm

Polestar has delivered its first Polestar 4 SUV Coupes in Europe, marking a significant milestone in its expansion. This delivery follows previous deliveries in China and adds to Polestar's growing lineup, which now includes Polestar 2, 3, and 4.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 12:44 pm

Cantor Fitzgerald analyst Andres Sheppard has reiterated an Overweight rating on Polestar Automotive (NASDAQ:PSNY) and maintained a $3 price target.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 5:14 pm

Polestar Automotive (NASDAQ:PSNY) shares are pulling back after a recent surge. The company has started producing its Polestar 3 electric SUVs in the U.S. to avoid tariffs on China-made EVs. Analysts have a positive outlook with a 12-month price target of $3, suggesting potential upside.

Portfolio Pulse from Erica Kollmann

August 19, 2024 | 4:48 pm

Polestar shares are trading higher as the company begins production in the US to avoid tariffs on China-made EVs.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 6:39 pm

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