Core Viewpoint - Polestar Automotive has faced significant stock declines, with shares down 94% from their peak, primarily due to delayed earnings reports and ongoing accounting issues [1][3][4]. Financial Performance - Polestar's stock price fell 37.1% in the last week of trading, reflecting investor concerns over its financial health [1]. - The company has lost approximately 77% of its stock value over the past year and currently has a market capitalization of $1.65 billion, valued at about one-third of its expected sales for the year [3]. - The last reported financial results were on November 8 of the previous year, showing a 41% year-over-year revenue growth but falling short by approximately $114 million compared to analyst estimates [6]. Earnings Reports and Delays - Polestar has postponed the release of its first-quarter earnings report and has delayed its fourth-quarter report from the previous year, raising concerns about operational and accounting issues [2][4]. - The company has delayed its Q4 report twice, with the latest postponement occurring at the end of April, leading to a significant sell-off of its stock [4]. Cash Position and Financial Health - As of the last report, Polestar had a cash position of $951 million but also reported an operating loss of $735 million for the quarter [6][7]. - The company secured an additional $1 billion loan but is experiencing rapid cash burn, which raises concerns about its financial sustainability [7]. Market Concerns - The ongoing delays in financial reporting have led to questions about the reliability of future financial results, potentially impacting investor confidence [5]. - Polestar's stock is at risk of being delisted from the Nasdaq due to failure to meet financial reporting requirements and trading below $1 [7].

Polestar Automotive Holding UK PLC (PSNY) may get delisted from Nasdaq after repeatedly missing the securities regulator's deadlines for submitting financial reports. Per Nasdaq's notice, the Swedish EV manufacturer has 60 days to submit a plan of compliance after failing to file its full-year 2023 and first-quarter 2024 financial reports promptly. Originally, the company was expected to file its full-year 2023 financial report in February. The deadline was then pushed to the end of April, which the company ...

Core Viewpoint - Polestar's stock is under scrutiny due to potential impacts from the Biden administration's plans to impose quadrupled tariffs on Chinese electric vehicles, which could significantly affect the company's operations in the U.S. market [1] Group 1: Company Overview - Polestar is a Swedish-based electric vehicle manufacturer backed by Chinese firm Geely, and it is one of the few China-related brands with a presence in the U.S. market [2] - As of the latest update, Polestar's stock is trading at approximately $1.31 per share, with a market capitalization of around $2.7 billion [2] Group 2: Industry Context - The Inflation Reduction Act has led to substantial investments in the U.S. electric vehicle sector, aiming to reclaim market share from China, particularly in the battery market, which is expected to see U.S. storage capacity double this year [3] - U.S. automakers have shown hesitance in increasing EV investments, with Ford reporting significant losses on EV sales [4] Group 3: Strategic Moves - Polestar had plans to assemble vehicles in South Carolina to qualify for subsidies but has recently abandoned those plans [5] - The company showcased its Polestar 3 and Polestar 4 models in New York, indicating ongoing product development despite the challenges [5] Group 4: Competitive Landscape - The Biden administration's tariffs on Chinese EVs may provide a competitive advantage to South Korean firms like Hyundai, which is expanding its EV manufacturing presence in the U.S. [6] - Hyundai's stock has seen a 33% increase this year, reflecting positive market sentiment towards South Korean automakers amid the changing competitive landscape [7]

Market optimists dueled with pessimists and won out, despite a negative development with the company.Hump Day proved to be something of a street obstacle for electric vehicle (EV) maker Polestar Automotive (PSNY 0.72%). On a large piece of quite discouraging news, investors sold out of the company's stock early in the day, before it recovered to land weakly in positive territory at market close. The market is currently looking for bargains in the EV space, and some obviously consider Polestar to be a potent ...

Polestar has high hopes -- but investors are starting to lose hope.Shares of Polestar Automotive (PSNY -10.65%) fell 14.4% through 10:40 a.m. ET on Monday, the stock's third straight day of declines since reporting exceptionally weak car deliveries for the first quarter. Last Thursday, Polestar said that it delivered only 7,200 electric vehicles (EVs) in the quarter. Not a good numberA year before, the company delivered 12,076 EVs, meaning that 7,200 figure was a 40% decline in deliveries for the Sweden-bas ...

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Q4 2023 Earnings Conference Call February 29, 2024 8:00 AM ET Company Participants Thomas Ingenlath - Chief Executive Officer Per Ansgar - Chief Financial Officer Bojana Flint - Investor Relations Conference Call Participants Tobias Beith - Redburn Atlantic Alex Potter - Piper Sandler Winnie Dong - Deutsche Bank Itay Michaeli - Citi Dan Levy - Barclays Andres Sheppard - Cantor Fitzgerald Operator Good day, and thank you for standing by. Welcome to the Polesta ...

Investors had been losing confidence in electric vehicle (EV) maker Polestar Automotive (PSNY 13.66%) over the last month. That is until today. In that time Swedish automaker Volvo announced that it would stop funding the EV start-up in which it owns a nearly 50% stake. That came after Polestar said it would miss its 2023 vehicle production target.The company delivered 54,600 vehicles last year, versus its target of about 60,000. But after an announcement of new funding and an optimistic business outlook ye ...

Polestar (NASDAQ:PSNY) stock is on the rise Thursday after the electric vehicle (EV) company announced progress on its joint venture with Hubei Xingji Meizu.Polestar notes that this joint venture, which it owns 49% of, is dedicated to brings EVs to the Chinese market. The latest news is the joint venture signing a subscription agreement with an investor.This has the Nanjing Jiangning Economic and Technological Development Zone Industrial Equity Investment Partnership agreeing to purchase $208.4 million wort ...

GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar Automotive Holding UK PLC (Nasdaq: PSNY), the Swedish electric performance car brand, announces that it has secured USD 950 million in external funding. The company is making strong progress on its strengthened business plan and achieving its 2025 targets. The financing is being provided by 12 leading international banks including BNP Paribas, Natixis, Standard Chartered, BBVA, HSBC and SPDB, in the form of a three-year loan facility. It provides Polestar with ...

A Polestar Roadster concept electric vehicle during the Singapore Motorshow in Singapore, on Thursday, Jan. 11, 2024. The show runs through Jan. 14. Photographer: Lionel Ng/Bloomberg via Getty ImagesShares of Volvo Cars dipped on Friday, after the company said it would dilute its stake in electric vehicle maker Polestar by distributing 62.7% of its holdings to its shareholders.The company's stock traded over 5% lower at around 10:00 a.m. London time, paring some of its earlier losses.If approved during the ...