PSNY - Polestar: Waiting For Capital Raise
2024-07-14 13:58:40 ET
Summary
- Polestar Automotive has struggled since going public in 2022, with low vehicle deliveries and high cash burn.
- Recent financials for Q1 show decreased revenues, negative gross margins, and operating losses, despite some improvement in cash burn.
- The company's balance sheet remains quite concerning, with a negative equity balance and the need for more capital.
With the electric vehicle market becoming more competitive by the week, it is easy to spot the winners from the losers. One name that has really struggled in recent years is Polestar Automotive Holding UK PLC (PSNY), which has lost most of its value since going public in 2022. While shares have recently bounced a bit percentage wise from their all-time low, the company still is in a tough spot and needs to raise more capital....
Polestar: Waiting For Capital Raise