Why Polestar Dropped Double Digits Today
EV maker Polestar Automotive Holding (NASDAQ: PSNY) just went public in late June, but the company was different from several other EV start-ups that began trading after merging with a special purpose acquisition company (SPAC). At the time of its public debut in late June, Polestar was already in production and had more than 55,000 of its vehicles on the road around the world.
The company showed solid growth when it released its first-half 2022 earnings report today, but investors are knocking the stock down anyway. Shares were trading near the session low, down 10.1% as of 11:20 a.m. ET.
Source Fool.com
