Why Beaten-Down EV Stock Polestar Surged 21% Today

Can a new CEO and new cars change Polestar's fortunes? Polestar Automotive (PSNY 13.76%) stock zoomed today and was up 17% as of 12:20 p.m. ET after clocking 21.1% gains in the early hours of trading today. The Swedish electric vehicle (EV) maker reported a sharp sequential jump in its deliveries for the second quarter, a day after CEO Thomas Ingenlath abruptly resigned. The two updates were enough to trigger a buying frenzy in the EV stock that's lost more than 70% value in one year alone. Polestar gets a ...