Why Polestar Automotive Stock Crashed 20% After Its Reverse Stock Split This Week

This once-hyped electric vehicle stock is down over 95% from its all-time highs.Shares of Polestar Automotive (PSNY +21.36%) crashed 19% this week, according to data from S&P Global Market Intelligence. The company is struggling to generate a profit and has seen a crashing stock price, recently having to perform a reverse stock split in order to have a high enough stock price to be listed on the Nasdaq exchange. Electric vehicles have gone through a boom and bust cycle, with Polestar struggling to generate ...