Polestar stock

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Polestar stock

Swedish-based electric car manufacturer Polestar catapulted itself into the public eye in spectacular fashion in February following a polarizing ad spot during the Superbowl. The company only needed 30 seconds to get its point across, promising an uncompromising approach to making vehicles while also taking some notable shots at rivals Tesla and Volkswagen. With more people talking about the company than ever before, we're all no doubt wondering how we can buy shares in Polestar. Before we answer that though, let's take a little look under the hood first. Polestar is currently majority-owned by fellow Swedish auto manufacturer Volvo following a purchase in The company is headquartered in Gothenburg, Sweden, and develops electric performance cars. Its Superbowl showing was designed around the Polestar 2, the first car of any kind to have an operating system exclusively powered by Google -- a company that knows a thing or two about tech. Polestar went public on June 24, Once the merger was formally approved by Gores Guggenheim's shareholders, Polestar was able to begin trading. CEO Thomas Ingenlath stated that the funds acquired from going public would be used to put into place a three-year plan aimed at profitability. We don't know too much about Polestar's overarching financials, as it escapes the rigorous reporting standards by debuting via SPAC as opposed to following the traditional IPO route. What we do know, however, is that it is already steadily producing and delivering vehicles, unlike many of the electric vehicle EV startups we've seen in the last number of years.

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Shares of Polestar made their public-market debut under the ticker "PSNY" on Friday, making it the latest electric vehicle maker to go public via a merger with a special purpose acquisition company, or SPAC. But Ingenlath said Polestar, which began as a joint venture between Sweden's Volvo Cars and Chinese auto giant Geely in , has progressed beyond startup status. SPAC deals have become a more popular way for companies to go public in recent years. The disclosures required are simpler than those in a traditional initial public offering. Unlike in a traditional IPO, companies participating in a SPAC merger are allowed to present forward-looking projections to investors, which can help justify a lofty valuation. But there's no guarantee that those forecasts will come true. So far, most SPAC mergers with electric vehicle companies haven't worked out well for investors. But Polestar could have several advantages over competitors. It has a factory up and running in China and an assembly line set to begin production later this year in a South Carolina factory shared with Volvo. Over the next three years, the company plans to add three vehicles to its current model, the compact Polestar 2 crossover built in China.

Polestar stock

In something of a change this earnings season, an electric carmaker other than Tesla actually reported a profit for the quarter. The company was able to trim its operating loss for Q3 by one-third compared to last year as well. During that time Polestar delivered 30, cars globally, and the company said it was on track to hit its delivery target of 50, cars for the year. Polestar says its product pipeline is slated to reveal new product launches like the Polestar 4 SUV in , the Polestar 5 grand touring sedan in , and the Polestar 6 roadster in

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Next Earnings. Market Closed - Nasdaq Other stock markets. Strong sell Strong buy. It has much of what a lot of other EV startups possess: sleek design, a competitive price-point, and a clear dislike for Elon Musk and Tesla -- as evidenced by its Superbowl commercial. Auto Loan Calculator. Why the Stock Fell. Top-Performing Corporate Insiders. Search the FT Search. Polestar on track to deliver 50, cars this year, CEO says. Join thousands of traders who make more informed decisions with our premium features. New major risk - Financial position Nov

That is until today. That came after Polestar said it would miss its vehicle production target. The company delivered 54, vehicles last year, versus its target of about 60,

Gross Margin. Polestar: Pressure Is Increasing Sep MyWallSt is a publisher and a technology platform, not a registered broker-dealer or registered investment adviser, and does not provide investment advice. Webinar Center. Last Close. Polestar stock slides on production forecast cut, new funding announcement Yahoo Finance Inflation data, jobless claims, earnings: What to watch Yahoo Finance Video. EPS next Q. Scroll to Statements. Market capitalization.