Sunday, July 14, 2024

Polestar gets another warning – thrown out January 2, 2025

Polestar's share price has now for more than 30 consecutive days been below the required one dollar in value. Therefore, the Nasdaq stock exchange in the US can throw out the Chinese brand.

Polestar has at long last – and after several warnings – submitted a preliminary account. But this does not mean that the brand will survive on the stock exchange.

On the contrary, Polestar has received another warning about so-called delisting. This means that the brand risks being kicked out of the stock market. All because the value of the share is less than one dollar apiece.

And that's how it's been for more than 30 consecutive days. This is in direct violation of New York drilling regulations. Therefore, Polestar has received a warning that the brand's stock will be thrown out if it does not experience a ceiling soon.

Polestar himself writes this in a press release .

READ ALSO: Car brand negotiates with Kevin Magnussen's Formula 1 team

– With an increasing sales rate, growing model range and a diversified production footprint, Polestar stands by its ambition to reach cash flow break-even by the end of 2025.

– Something that is expected to be reflected in the company's valuation, the company writes in its press release.

Right now, the share price is hovering around $0.92. Which, however, is a significant improvement compared to just a month ago, when the share was down around 0.7 dollars, corresponding to 4.8 Danish kroner.

If Polestar cannot keep the rate above 1 dollar by January 2, 2025 at the latest, the company can have another 180 days to rectify the issues before it is all over. At least on the stock exchange in New York.

However, the accounts remain a threat to Polestar. The figures that the brand has sent to the stock exchange in New York are preliminary. And thus not an expression of an actual result. Something that all listed companies must otherwise deliver within a set deadline.

At home, Polestar is well outside the sales statistics' top 10. Still, the Chinese brand can note that compared to the first half of 2023, more cars have been sold to the Danes.

Read more exciting news from and about the world of cars right here!

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