Polestar Automotive Stock: Buy, Sell, or Hold?

When Polestar Automotive (NASDAQ: PSNY) went public by merging with a special purpose acquisition company (SPAC) in June 2022, it initially seemed like a promising electric vehicle (EV) stock. It was backed by Geely's Volvo, manufacturing thousands of vehicles per year, and had a clear roadmap for the future.Polestar's stock opened at nearly $13 on the first day but now trades at about $1.30 per share. Like many other SPAC-backed EV makers, it ran out of juice as its deliveries stalled and it racked up steep losses.Could Polestar actually be a compelling turnaround play for contrarian investors? Let's see if it's the right time to buy, sell, or hold this unloved stock.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool