Why Polestar Stock Popped on Monday

The stock jump reflected some optimism that the company's expanding vehicle lineup and new sales plan can jump-start its volume. But it also comes after shares have dropped more than 65% year to date as global EV sales growth has slowed. A big commercial announcement is the reason for the pop. The Swedish EV brand jointly owned by Volvo and its Chinese parent company, Geely Automobile, announced a new sales model as well as executive level additions. Shares of electric vehicle (EV) maker Polestar Automotive ...