Polestar Automotive (PSNY), once Volvo’s (VLVLY) racing arm, has evolved into one of Sweden’s sleekest electric vehicle (EV) brands. Spun off by Volvo’s parent, Geely (GELYF), in 2017 and taken public through a SPAC merger in 2022, Polestar has steadily carved its place in the EV race. While it’s been quietly gaining traction, on Wednesday, the market finally took notice.
Shares jumped over 17% - from $1.10 to $1.30 - on whispers of a potential U.S.-EU deal that could slash regulatory hurdles for European automakers. Trading volume surged, surpassing the 52-week average. Investors and options traders are piling in, betting on even more upside as Polestar eyes expansion into the American market. Plus, its stellar deliveries are fueling momentum, strengthening the brand’s position in the fiercely competitive EV landscape.
