Polestar Slashes Delivery Forecast After US Ban, Posts Wider Loss
PSNY is trading near its 52-week low of $11.75 (3.9% below the low).
Summary
Polestar cut its full-year delivery growth forecast to low-to-mid single digits from low double digits, citing the US ban on new models from 2027. Q2 revenue fell 8% to $727 million, and the company recorded $130 million in US restructuring charges. Net loss narrowed to $459 million from $1.02 billion a year earlier, helped by a prior-year impairment. Free cash flow was negative $1.06 billion in H1 despite $700 million in equity raises. The company opened orders for its new SUV 4 and will report Q3 results on November 5.
At the time of this announcement, PSNY was trading at $11.29 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $11.75 to $39.30. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.