This week, the stock market could almost be flooded with Polestar shares. Volvo shareholders have been given millions of ownership certificates, which must now be forcibly sold.
The Polestar share has already become worth 72 percent less in the course of 2024. And now it risks falling further.
Millions of certificates of ownership, which the sister brand Volvo has received, must be forcibly converted into shares and sold. The ownership certificates come after Volvo sold 62.7 percent of its stake in Polestar.
But millions of ownership certificates have not yet been converted into shares in Polestar, and they must now. According to Carup , the Swedish bank Avanza AB stated last week that 40 percent of their customers who have shares in Volvo have not yet converted their ownership certificates in Polestar into shares.
It is estimated that up to 10 million ownership certificates in Polestar may be forcibly sold as shares on the New York Stock Exchange this week.
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Polestar is already in trouble because the car brand's stock is below the one dollar value that the stock exchange in New York requires of listed companies.
Back in June, however, the car brand created something of its own rescue as a limited liability company, when two days before the deadline it submitted accounts.
But if nothing positive happens for the value of the Polestar shares, the car brand still risks a delisting in January 2025, as it is called in borsom terms. In other words, to quit the market. Read more about it here .
Even the Polestar top looks bright on the future. Nor do we have to go back many months to find a share that suddenly rose by 23 percent when Polestar announced that, among other things, had hired several senior employees from other car brands. Blue. from Chinese Nio.
At home, Polestar has also experienced success. In fact, so much so that the brand in 2023 was the one that the Danes leased the most.
Read more exciting news from and about the world of cars right here!
