PSNY Stock Forecast: Polestar Rises as EV Stocks Rise

PSNY Stock Forecast: Polestar Rises as EV Stocks Rise

PSNY Stock Forecast: PSNY’s SPAC merger with GGPI executed, The deal raises $890 Million

PSNY Stock Forecast: Latest Price

PSNY Stock Forecast: Performance Chart

Stock Name5 Days1 Month6 Months1 Year
PSNY+11.39%-1.21%-7.96%-0.71%

PSNY Stock Forecast: Latest Tweet

Jad on Twitter: “$PSNY chart remains bullish. Resistance at $9.93 and new support(blue). The yellow line is for personal reference. pic.twitter.com/VF1Boxw9Dg / Twitter”

PSNY chart remains bullish. Resistance at $9.93 and new support(blue). The yellow line is for personal reference. pic.twitter.com/VF1Boxw9Dg

PSNY Stock Forecast: Is it a Buy?

Polestar’s technical analysis suggests “buying” the stock – the stock was down by 14.5% today yet, the long-term results look promising.  Investors have placed their trust in this merger because of the existing production base and Volvo’s ownership. Zacks and many other analysts have laid off from rating it for a while – One has to wait and see whether they are able to deliver. As mentioned, historically, such mergers have not had great success. It is certain that with the launch of new vehicles and increasing production, the price shall go up but, Risk-averse investors should wait and see how it performs for a while.

PSNY Stock Forecast: Performance Chart

IndicatorTrend
Overall OutlookMarginally Positive
1. Market DataPositive
1a. Market CapHigher
1b. TechnicalBuy
1c. Trading VolumeLower
2. Crowd’s WisdomNeutral
2a. Google Search VolumeLower
2b. Social Media SentimentHigher

Also Read: Ford Stock Forecast 2022

PSNY Stock Forecast: GGPI SPAC Merger

Polestar’s shares began trading on Friday under the ticker of “PSNY” – On its debut, the stocks fell by 7%. This is because it takes time for early-stage companies to show significant capital returns and cash flows. The trading began after a SPAC merger with Gores Guggenheim (GGPI).

Polestar already has many running vehicles on the ground implying that their operations have already had a starting point and Volvo still owns 48% of the company. It has a factory in China and expects to add new vehicles to its portfolio soon. By the end of 2025, the goal is 290,000 vehicles. The deal raised $890 Million which will now be used to make the company profitable.

PSNY Stock Forecast: Latest Video

YouTube video

PSNY Stock: PSNY IPO

The timing for this merger was apt – Polestar ad recently announced record sales, a growth of 290% on Polestar 2. In 2022, it is now present in 25 markets with 130 retail locations. They plan to add an SUV, Polestar 3 new vehicle by 2024 according to the CEO. It gives them the advantage of being a newly listed company with a notable base for production and sales. After the closing of the SPAC merger, the companies continue to trade under a single ticker. GGPI stock has been rising since the announcement.

IPOs can be volatile for a few months – and investors are wary about such deals. However, EV is a hot market with an ever-rising demand and trend. On Friday, the stock peaked right when the market opened at $12.9 and then eventually fell to $10.6 – It has been rising ever since.

PSNY Stock Forecast: Google Trends

Google Search Volume for PSNY Stock is Lower than yesterday.

PSNY Stock Forecast: Technical Analysis

PSNY Stock Forecast

Nandini Panchal

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Read the latest forecasts in less than 5 minutes
Choose the Topic of Interest and Subscribe to get it in your Inbox