Polestar share trade up on narrower loss for quarter
Polestar Automotive (NASDAQ:PSNY) shares traded up nearly 7% on Thursday, to $1.01, after the EV firm narrowed its losses for the second quarter, At $242.3 million, the second-quarter operating loss improved from last year's $273.6 million loss. Revenue for the quarter was down, however, at $574.9 million from $693.3 million a year ago.
Polestar posts further loss, hit by demand slowdown and delay in car launches
Polestar posted a second quarter operating loss on Thursday, a day after the Swedish electric vehicle (EV) maker replaced its CEO amid funding issues and flagging sales.
Why EV Stocks Plunged on Wednesday
Polestar's CEO abruptly left the EV upstart. Canada is putting a 100% tariff on Chinese EV imports.
Swedish EV maker Polestar appoints Michael Lohscheller as CEO
Swedish electric-vehicle (EV) maker Polestar said on Wednesday that Michael Lohscheller will become chief executive, replacing current CEO Thomas Ingenlath.
Despite Fast-paced Momentum, Polestar Automotive Holding UK PLC (PSNY) Is Still a Bargain Stock
If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Polestar Automotive Holding UK PLC (PSNY) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.
Why Polestar Stock Is Surging Today
Polestar has begun building its new electric SUV in a Volvo factory in South Carolina. The move allows it to avoid tariffs on China-made EVs in the U.S. and Europe.
Why Polestar Stock Was Zooming Higher This Week
The ambitious automaker is launching production of its latest model in the U.S. The Polestar 3 should start rolling out of its South Carolina factory soon.
Swedish EV maker Polestar starts U.S. production, avoiding heavy tariffs
Swedish electric-vehicle (EV) maker Polestar moved one step further in avoiding major tariffs imposed on Chinese-made cars on Wednesday when the automaker said it began production of its Polestar 3 SUV in the United States.
Polestar: Waiting For Capital Raise
Polestar Automotive has struggled since going public in 2022, with low vehicle deliveries and high cash burn. Recent financials for Q1 show decreased revenues, negative gross margins, and operating losses, despite some improvement in cash burn. The company's balance sheet remains quite concerning, with a negative equity balance and the need for more capital.
PSNY Stock Alert: Polestar Receives Nasdaq Non-Compliance Notice
Polestar (NASDAQ: PSNY ), an electric vehicle (EV) company backed by China's Geely (OTCMKTS: GELYY ), but based in Sweden, got a non-compliance notice from Nasdaq for failing to maintain a price of $1 per share. Polestar has until Jan. 2 to get its price up and maintain its listing.
Polestar Automotive Holding UK PLC (PSNY) Q1 2024 Earnings Call Transcript
Polestar Automotive Holding UK PLC (NASDAQ:PSNY ) Q1 2024 Earnings Conference Call July 2, 2024 8:00 AM ET Company Participants Thomas Ingenlath - CEO Per Ansgar - CFO Bojana Flint - Head of IR Conference Call Participants Tobias Beith - Redburn Atlantic Andres Sheppard - Cantor Fitzgerald Daniel Roeska - Bernstein Dan Levy - Barclays Operator Good day and thank you for standing by. Welcome to the Polestar Q1 2024 Results Conference Call.
Polestar (PSNY) Stock Slumps Despite Cost Cutting, Delivery Growth
The shares of Sweden-based EV maker Polestar (NASDAQ: PSNY ) stock are retreating about 9% today even though the electric vehicle company reported that its deliveries had surged in the second quarter. The automaker also confirmed that it had reduced its workforce by 15% this year, in-line with its previous commitment.
