Polestar stock rises 108% since August but is 88% below IPO price, facing production delays and a $1.4 billion net loss.
Polestar Automotive, a Swedish EV manufacturer partly owned by Volvo and Geely, has seen its stock rise 108% since August due to management changes and compliance with Nasdaq requirements. Despite this rebound, the stock is still 88% below its 2022 IPO price. The company faces production delays and a $1.4 billion net loss, aiming to deliver 155,000 vehicles and achieve cash flow breakeven in 2023. Analysts advise caution for potential investors.
October 13, 2024
8 Articles