PSNY Stock Summary and Trading Ideas (Polestar Automotive Holding Uk Limited - Class A Ads | NASDAQ:PSNY)

Polestar Automotive Holding UK PLC operates as an electric vehicle manufacturer. It engages in designing products that are engineered to excite consumers and drive change. Polestar defines market-leading standards in design, technology, and sustainability. Polestar was established as a premium electric car brand by Volvo Cars and Geely Holdings. Polestar has produced two electric performance cars namely Polestar 1 and Polestar 2. Geographically, it derives a majority of revenue from USA.

Polestar Automotive Holding Uk Limited - Class A Ads trades on the NASDAQ stock market under the symbol PSNY.

As of November 22, 2024, PSNY stock price climbed to $1.13 with 5,386,580 million shares trading.

PSNY has a beta of 1.73, meaning it tends to be more sensitive to market movements. PSNY has a correlation of 0.04 to the broad based SPY ETF.

PSNY has a market cap of $2.38 billion. This is considered a Mid Cap stock.

The top ETF exchange traded funds that PSNY belongs to (by Net Assets): QCLN, IDRV, KOMP, HAIL, BATT.

PSNY has underperformed the market in the last year with a price return of -44.3% while the SPY ETF gained +32.8%. However, in the short term, PSNY had mixed performance relative to the market. It has outperformed in the last 3 months, returning +31.9% vs +6.4% return in SPY. But in the last 2 weeks, PSNY shares have been beat by the market, returning -10.7% compared to an SPY return of -0.1%.

PSNY support price is $1.04 and resistance is $1.16 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PSNY shares will trade within this expected range on the day.