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 Automotive Holding (NASDAQ:PSNY) shares are trading lower after reporting preliminary unaudited financial and operational results for 2023. The company reported a revenue decline to $2.38 billion from $2.45 billion the previous year and recognized non-cash impairment charges of around $450 million. Polestar also announced the first customer deliveries of its Polestar 3 SUV and plans to release its first-quarter 2024 results on July 2. Analysts have mixed ratings with an average 12-month price target of $3.35.

Portfolio Pulse from Erica Kollmann

June 28, 2024 | 1:30 pm

Several major stocks, including Nike, Accolade, and others, are experiencing significant declines in pre-market trading due to various negative news and guidance. Nike fell sharply after disappointing earnings and downgrades, while Accolade, PTC Therapeutics, Kura Sushi, Rocket Pharmaceuticals, Polestar Automotive, Foot Locker, and Apellis Pharmaceuticals also saw notable drops.

Portfolio Pulse from Avi Kapoor

June 28, 2024 | 1:08 pm

Polestar reported its full-year 2023 financial results, showing a 3% decrease in revenue to $2.38 billion compared to $2.45 billion in 2022. The company experienced a significant increase in operating loss, driven by higher costs and impairments.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 12:15 pm

Polestar (NASDAQ:PSNY) has begun delivering its Polestar 3 electric SUVs to customers, marking a significant milestone for the company. The initial deliveries are happening across two continents, with high customer interest and additional test-drive slots being made available.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:26 pm

Polestar shares are trading higher due to broader strength in EV stocks, driven by Rivian's partnership with Volkswagen.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 7:47 pm

The article highlights the intraday movements of several consumer discretionary stocks on Wednesday. Notable gainers include Vacasa, La-Z-Boy, China Liberal Education, Chewy, Volcon, and Lixiang Education Holding. Significant losers include Interactive Strength, Zapp Electric Vehicles, Connexa Sports Techs, Polestar Automotive, Barnes & Noble Education, and Jumia Technologies.

Portfolio Pulse from Benzinga Insights

June 19, 2024 | 4:31 pm

Polestar has announced that Håkan Samuelsson will retire as Board Chair, with Winfried Vahland appointed as the new Board Chair. Additionally, Carla De Geyseleer has chosen not to stand for re-election.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 8:15 pm

Quantum Corporation (NASDAQ:QMCO) shares fell 44.5% to $0.43 after reporting worse-than-expected FY24 financial results and issuing FY25 guidance below estimates. Other notable stock movements include Reliance Global Group (NASDAQ:RELI) jumping 350% after an acquisition update, and DermTech, Inc. (NASDAQ:DMTK) falling 58.4% after filing for Chapter 11 protection.

Portfolio Pulse from Avi Kapoor

June 18, 2024 | 5:39 pm

The article highlights the intraday movements of several consumer discretionary stocks on Tuesday. Notable gainers include Volcon, La-Z-Boy, Chewy, China Liberal Education, Chegg, and Vacasa. Significant losers include Kaival Brands Innovations, Zapp Electric Vehicles, Polestar Automotive, Connexa Sports Techs, Jumia Technologies, and Lobo EV Technologies.

Portfolio Pulse from Benzinga Insights

June 18, 2024 | 4:31 pm

The article highlights significant intraday movements in consumer discretionary stocks on Monday. Notable gainers include Aarons (AAN), Envirotech Vehicles (EVTV), Xponential Fitness (XPOF), Polestar Automotive (PSNY), EpicQuest Education Group (EEIQ), and Fitell (FTEL). On the losing side, Kaival Brands Innovations (KAVL), Connexa Sports Techs (YYAI), Volcon (VLCN), MOGU (MOGU), Kaixin Holdings (KXIN), and Zapp Electric Vehicles (ZAPP) experienced declines.

Portfolio Pulse from Benzinga Insights

June 17, 2024 | 4:31 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.