Latest news with #PolestarAutomotiveHoldingUKPLC
Yahoo
15-05-2025
- Automotive
- Yahoo
Why Polestar Automotive Holding (PSNY) Skyrocketed On Wednesday
We recently published a list of . In this article, we are going to take a look at where Polestar Automotive Holding UK PLC (NASDAQ:PSNY) stands against other firms blowing up by double digits today. Ten individual stocks soared by double digits on Wednesday, outperforming a lackluster performance among Wall Street's indices, thanks to the 90-day truce between the US and China that continued to boost investor confidence. In contrast, Wall Street's indices were mixed, with the tech-heavy Nasdaq growing 0.72 percent, followed by the S&P 500, up 0.10 percent. The Dow Jones declined by 0.21 percent. In this article, we name Wednesday's 10 best-performing stocks and detail the reasons behind their gains. To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume. A pristine electric vehicle parked in front of a modern Gothenburg skyline. Polestar Automotive grew its share prices by 10.58 percent on Wednesday to close at $1.15 apiece following an impressive earnings performance in the first three months of the year. In a statement earlier this week, the company said it trimmed its net loss by 31 percent to $190 million from the $276 million in the same period last year, buoyed by an improvement in its gross profit, fixed cost savings, a positive foreign exchange impact within net finance expenses, which partially offset losses from the joint venture with Hubei Xingji Meizu Group Co. Ltd and lower positive fair value change of earn out rights. Meanwhile, revenues jumped by 84.2 percent to $608 million from $330 million year-on-year, primarily driven by higher volumes and a favorable shift in the product mix. Retail sales also expanded by 76.4 percent to 12,304 units, supported by a growing uptake in newer models. Overall, PSNY ranks 8th on our list of firms blowing up by double digits today. While we acknowledge the potential of PSNY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PSNY but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
15-05-2025
- Automotive
- Yahoo
Why Polestar Automotive Holding (PSNY) Skyrocketed On Wednesday
We recently published a list of . In this article, we are going to take a look at where Polestar Automotive Holding UK PLC (NASDAQ:PSNY) stands against other firms blowing up by double digits today. Ten individual stocks soared by double digits on Wednesday, outperforming a lackluster performance among Wall Street's indices, thanks to the 90-day truce between the US and China that continued to boost investor confidence. In contrast, Wall Street's indices were mixed, with the tech-heavy Nasdaq growing 0.72 percent, followed by the S&P 500, up 0.10 percent. The Dow Jones declined by 0.21 percent. In this article, we name Wednesday's 10 best-performing stocks and detail the reasons behind their gains. To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume. A pristine electric vehicle parked in front of a modern Gothenburg skyline. Polestar Automotive grew its share prices by 10.58 percent on Wednesday to close at $1.15 apiece following an impressive earnings performance in the first three months of the year. In a statement earlier this week, the company said it trimmed its net loss by 31 percent to $190 million from the $276 million in the same period last year, buoyed by an improvement in its gross profit, fixed cost savings, a positive foreign exchange impact within net finance expenses, which partially offset losses from the joint venture with Hubei Xingji Meizu Group Co. Ltd and lower positive fair value change of earn out rights. Meanwhile, revenues jumped by 84.2 percent to $608 million from $330 million year-on-year, primarily driven by higher volumes and a favorable shift in the product mix. Retail sales also expanded by 76.4 percent to 12,304 units, supported by a growing uptake in newer models. Overall, PSNY ranks 8th on our list of firms blowing up by double digits today. While we acknowledge the potential of PSNY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PSNY but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-04-2025
- Automotive
- Yahoo
Polestar Automotive Holding UK (PSNY): Among EV Penny Stock From $10 to Under $1
We recently published a list of . In this article, we are going to take a look at where Polestar Automotive Holding UK PLC (NASDAQ:PSNY) stands against other stocks in EV penny list: from $10 to under $1. The global electric vehicle (EV) market is on a roll despite the ever-growing tariff turmoil triggered by US President Donald Trump. That was clear as EV sales increased by 29% in the first quarter, to 4.1 million on the sale of 1.7 million units in March. China, which continues to lead the world in EV adoption, reported a 36% year-over-year increase in EV sales in Q1, with sales in March alone topping 1 million units, a record last seen in August 2024. Due to the minimal cross-border EV sales, China is unlikely to experience significant impacts from the US-China tariff dispute. While North American EV sales were up by 16% in the first quarter, adding to the 7.3% increase in 2024, the market's long-term outlook remains unclear. That's in part to Trump's imposition of substantial tariffs on auto parts and other equipment that automakers need to ramp up the development of EVs. The 25% tax imposed in February on cars imported from Canada and Mexico and a larger levy imposed in March on all auto imports is anticipated to trigger a significant increase in EV prices. The impact on affordability and market dynamics is probably substantial, given that about 40% of US EV sales are imported from nations like Mexico, Korea, and Japan. Approximately two-thirds of the electric vehicles sold in the US last year were manufactured domestically, but, like all contemporary cars, the necessary parts and components are procured from various countries worldwide. The ongoing, intense trade conflict with China, the leading global supplier of materials for EV batteries, will further complicate the market. Additionally, there is substantial speculation that the new administration may undo the electric vehicle sales incentives established during the Biden administration, casting a shadow over the outlook for EV sales in the second quarter and beyond. Consequently, the remainder of 2025 is expected to be a tumultuous period for electric vehicle sales in the United States, even with the launch of new products and appealing incentives. Should the new automobile tariffs remain in place, they will create a significant obstacle for numerous automakers, mainly because of the tariffs applied to steel and, crucially for EVs, aluminium. Amid the headwinds, analysts expect 2025 to be a strong year for EV sales in the US, building on the positive momentum in 2024. Likewise, the stocks of companies exposed to the electric vehicle spectacle should be the biggest beneficiary, especially penny stocks trading at highly discounted valuations. To compile this list, we focused on companies within the EV industry, sourced from ETFs trading below $10 as of April 16. From this group, we identified 10 stocks most preferred by institutional investors, including those priced under $1. The leading EV penny stocks are ranked in ascending order based on hedge fund sentiment, derived from Insider Monkey's database of 1,009 hedge funds as of Q4 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A pristine electric vehicle parked in front of a modern Gothenburg skyline. Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is a Swedish electric performance car brand that manufactures and sells premium electric vehicles. It focuses on combining cutting-edge technology, sustainable design, and a commitment to improving society through electric mobility. Known for its performance-oriented EVs, the company is working to expand its product lineup as it targets compound annual retail sales volume growth of 30-35% from 2025 to 2027. On April 16, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) confirmed the termination of its strategic partnership with technology firm Xingji Meizu Group. The termination paves the way for the transfer of digital and other assets from the joint venture, which should allow Polestar to resume sales, customer service, and distribution in the Chinese market. Polestar Automotive Holding UK PLC (NASDAQ:PSNY) remains committed to pursuing growth opportunities in the Chinese EV market as part of its long-term strategy for growth and innovation. The company is also pushing on its aggressive growth strategy that entails having five performance EVs by 2026. It's on course to start production of Polestar 4 in South Korea in the second half of the year. It has also established a new production facility in Charleston, South Carolina. Overall, PSNY ranks 11th on our list of stocks in EV penny list: from $10 to under $1. While we acknowledge the potential of PSNY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PSNY but that trades at less than 5 times its earnings check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
20-04-2025
- Automotive
- Yahoo
Is Polestar Automotive Holding UK PLC (PSNY) Among the Best EV Stocks To Buy in 2025?
We recently published a list of 12 Best EV Stocks To Buy in 2025. In this article, we are going to take a look at where Polestar Automotive Holding UK PLC (NASDAQ:PSNY) stands against other best EV stocks to buy in 2025. Electric cars, often known as electric vehicles or EVs, are automobiles powered by electricity instead of gas. Electric car stocks are comprised of companies that primarily manufacture electric vehicles. Firms that make components for electric vehicles, such as batteries or autonomous driving systems, are also regarded as part of the electric vehicle industry. President Trump's 25% tariffs on imported automobiles have officially come into force, affecting roughly half of the US auto industry. According to S&P Global Mobility estimates, 46% of the 16 million automobiles sold in the United States in 2024 were not produced domestically. The policy also includes tariffs on specified vehicle parts, including engines and transmissions, which will go into effect on May 3. Wall Street analysts and investors have been skeptical of the tariffs, which some say might reduce business earnings and plunge the automobile industry into a recession. Bernstein analyst Daniel Roeska stated in a recent note to investors: 'A 25% on automotive imports lasting beyond four to six weeks would likely have a chilling effect on the entire sector as [automakers] need to grapple with significant impact to the bottom line.' Wall Street analysts believe that automakers' and suppliers' equities will remain volatile in the near term. The most vulnerable businesses are those with high import ratios. Several companies saw more than 60% of their U.S. sales in 2024 come from vehicles manufactured outside of the United States. Meanwhile, companies with all-U.S. final assembly lines and minimal dependence on imports, especially in the EV industry, are projected to be more secure. In the first quarter, U.S. auto sales exceeded industry forecasts by a wide margin as buyers rushed to purchase new cars before the tariffs went into effect, which many believe will raise car prices. According to S&P Global Mobility's tariff analysis, the costs of importing vehicles, auto manufacturing in the US, and consumer vehicle costs will all rise. Analysts warn that if tariffs are completely implemented, typical new car prices, which are currently around $48,000, might rise by up to $10,000. Lower-margin, entry-level vehicles are more vulnerable to price increases or discontinuation since they are often sourced from low-cost countries and are prone to margin compression under the new tariff regime. Specifically, China's car exports are under strain as US tariff hikes impact major overseas markets. Cui Dongshu, secretary general of the China Passenger Car Association (CPCA), stated: 'The abrupt hike in U.S. tariffs will have a disastrous impact on economies such as Southeast Asia, and thus our exports to these markets will be impacted more than expected.' March exports dipped 8% year on year, following a rise of 11% in February. Joint ventures and luxury brands suffered a 45% decline, exporting only 47,000 units. Exports from Shanghai-based EV facilities fell 82.4% in March to 4,701 units, while first-quarter exports fell 56.9% to 38,147 vehicles. The China Passenger Car Association fears that Southeast Asia, which is significantly touched by new US tariffs, may witness a decline in demand. Export growth was originally projected to slow to 10% in 2025, down from 25% in 2024, but this could potentially fall. Domestic sales surged by 14.4% to 1.97 million units in March and 6.1% to 5.18 million in the first quarter. A pristine electric vehicle parked in front of a modern Gothenburg skyline. We sifted through EV ETFs and online rankings to form an initial list of the 20 Best EV stocks. From the resultant dataset, we chose 12 stocks with the highest number of hedge fund investors, using Insider Monkey's database of 1,009 hedge funds in Q4 2024 to gauge hedge fund sentiment for stocks. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). Number of Hedge Fund Holders: 10 Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is among the Best EV Stocks. It is an electric vehicle manufacturer that develops products intended to excite consumers and drive change. The firm sets market-leading standards for design, technology, and sustainability. It was founded as a premium electric vehicle brand by Volvo Cars and Geely Holdings. The company has created two electric performance vehicles: Polestar 1 and Polestar 2. Geographically, the majority of its revenue comes from the United States. Despite recent challenges, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is well-positioned for development due to its strong EV lineup, which includes the Polestar 2, 3, and 4. The company's aggressive expansion plans for 2025 include introducing the Polestar 5 grand tourer and expanding into France, with a target of nearly tripling deliveries to 155,000 vehicles. Analysts predict revenue increases as Polestar Automotive Holding UK PLC (NASDAQ:PSNY) boosts operations and improves spending. The company's EBITDA, which has been negative since its public debut, is predicted to be positive by 2025. The company's international production strategy, which includes plans to produce the Polestar 3 in the United States as well as higher production in Europe and South Korea, allows it to avoid costly tariffs, however, labor costs may rise. The $501 million in cash and $800 million in bank facilities provide a strong financial buffer for overcoming challenges, whereas the debt load, along with potential dilution from secondary offerings, is manageable in the long run. Overall, PSNY ranks 12th on our list of the 12 Best EV Stocks To Buy in 2025. While we acknowledge the potential of EV companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PSNY but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Associated Press
16-02-2025
- Business
- Associated Press
ROSEN, THE FIRST FILING FIRM, Encourages Polestar Automotive Holding UK PLC Investors to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Polestar Automotive Holding UK PLC (NASDAQ: PSNY) between November 14, 2022 and January 16, 2025, both dates inclusive (the 'Class Period'), of the important March 31, 2025 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased Polestar securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Polestar class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 31, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Polestar's financial statements during the Class Period were materially misstated; (2) Polestar understated its internal control weaknesses; and (3) as a result, defendants' statements about Polestar's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Polestar class action, go to call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. ______________________ Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Fax: (212) 202-3827
