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

Cantor Fitzgerald analyst Andres Sheppard issued Buy ratings for Tesla, Rivian, VinFast, and Polestar, with respective price targets of $230, $15, $8, and $5. Lucid received a Sell rating with a $4 price target. Sheppard highlighted Tesla's price cut on autonomous driving technology and its deal with Baidu as positive, Rivian's Amazon deal and market expansion, VinFast's price advantage and dealer network, and Polestar's production shift to the US as encouraging. Lucid's slower production ramp-up and additional capital needs were seen as negatives.

Portfolio Pulse from Hayden Buckfire

May 14, 2024 | 5:13 pm

EV stocks are experiencing a rise following reports that President Biden plans to increase tariffs on Chinese EVs. This development could potentially benefit US-based EV manufacturers by making their products more competitive against Chinese imports.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 7:20 pm

AMD shares fell by around 7% after reporting Q1 results and Q2 revenue guidance matching Street estimates but with a non-GAAP gross margin of about 53%. Other stocks showed significant movement, with notable gainers including CytomX Therapeutics, IM Cannabis Corp., and Akanda Corp., among others, due to various positive updates and financial results. Losers included Cemtrex, CVRx, and Leggett & Platt, with declines following public offerings, downgrades, and disappointing financial results.

Portfolio Pulse from Avi Kapoor

May 01, 2024 | 5:01 pm

Polestar Automotive's shares are trading lower following the announcement of a delay in its annual report, attributed to accounting errors.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 12:25 pm

Starbucks Corporation reported disappointing Q2 earnings, leading to a 12.1% drop in pre-market trading. Other companies like CVRx Inc, Leggett & Platt, Skyworks Solutions, Super Micro Computer, and several more also experienced significant pre-market losses due to various negative financial updates.

Portfolio Pulse from Avi Kapoor

May 01, 2024 | 9:57 am

Polestar has announced a delay in the publication of its annual report due to accounting errors, according to an SEC filing. This delay could impact investor confidence and potentially affect the company's stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:45 pm

In Tuesday's after-market session, consumer discretionary stocks saw significant movements. Rocky Brands (RCKY) led the gainers with a 24.2% increase following their Q1 earnings release. Other notable gainers included Qurate Retail (QRTEA) and Sweetgreen (SG). On the downside, Starbucks (SBUX) experienced a 10% drop after their Q2 earnings announcement, with Leggett & Platt (LEG) and Foresight Autonomous (FRSX) also seeing declines. The movements reflect the market's reaction to recent earnings reports and overall market conditions.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 8:31 pm

Shares of electric vehicle (EV) stocks are experiencing an uptick in trading, likely influenced by Tesla's progress with its Full Self-Driving (FSD) technology in China. This development has contributed to a positive sentiment across the EV sector.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 7:42 pm

Polestar Automotive Holding UK Limited (NASDAQ:PSNY) is expanding production outside China due to tariff concerns and geopolitical tensions. CEO Thomas Ingenlath plans to increase exports of the Polestar 3 from South Carolina to the EU. This move comes as Chinese EV companies face scrutiny in Europe and the U.S. over state subsidies. After a major ownership restructuring, with Geely Automobile Holding (OTC:GELYY) and a private firm now holding a 69% stake, Polestar aims for a global sales distribution targeting 155,000 to 165,000 cars by 2025. PSNY shares dropped 3.94% to $1.23.

Portfolio Pulse from Shivani Kumaresan

April 24, 2024 | 5:31 pm

Polestar shares are trading higher, potentially rebounding from recent weakness in the electric vehicle (EV) sector.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:12 pm

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