Polestar Automotive Holding PSNY Stock Forecast

Polestar Automotive Holding PSNY Stock Forecast: Read about the future price prediction of PSNY stock and also read ‘Will PSNY Recover’?

PSNY Stock Forecast: Latest Price

Polestar Automotive Holding UK PLC (PSNY) is a Swedish electric vehicle manufacturer that was founded in 2017 by Volvo Cars and Geely Holdings. The company went public through a SPAC merger in June 2022. Polestar currently sells two electric vehicles, the Polestar 1 and Polestar 2. The Polestar 3, an electric SUV, is scheduled to be launched in 2023.

PSNY Stock Forecast 2023: Performance in the Last 12 Months

  • Last 5 Days: -2.9%
  • Last 1 Month: +2.0%
  • Last 6 Months: -39.8%
  • Last 12 Months: -70.4%

PSNY Stock Forecast: PSNY Target for the Next 12 Months

Target Price for the Next 12 Months$6
Cantor Fitzgerald$6
RF Lafferty$9

PSNY Stock Prediction Today, Tomorrow and Week

UTC: Dec 10th, 2023 06:04 PM

  • PSNY Polestar Automotive Stock Price Prediction in the next 24 hours is between $2.12 and $2.19
  • PSNY Polestar Automotive Stock Price Prediction this week is between $2.13 and $2.28

UTC: Dec 8th, 2023 04:44 PM
Overall OutlookNeutral
1. Market's WisdomN/A
1a. Market DataN/A
1b. Technical RecommendationNeutral
2. Crowd's WisdomNeutral
2a. Social Media BuzzSteady
2b. Social Media SentimentSteady

PSNY Polestar Automotive Stock Forecast 2023: Will PSNY reach $5 in 2023?

It is unlikely that PSNY will reach $5 in 2023. The company’s stock price has been declining since its IPO in June 2022, and there is no indication that the trend will reverse in the near future.

Polestar is facing a number of challenges, including supply chain disruptions, rising costs, and competition from other electric vehicle manufacturers. The company is also not yet profitable, and it is unclear when it will be able to achieve profitability.

As a result of these challenges, it is more likely that PSNY will continue to decline in the near term. However, the company has a strong track record of growth and is well-positioned to benefit from the long-term growth of the electric vehicle industry. Therefore, long-term investors may want to consider investing in PSNY, even if the stock price is unlikely to reach $5 in 2023.

PSNY Stock Forecast: How High Will PSNY Go in 2023?

It is difficult to predict how high PSNY will go in 2023, as the stock is volatile and influenced by a number of factors, including the overall market conditions, the performance of the electric vehicle industry, and company-specific news and events.

However, based on the company’s strong growth potential, experienced management team, and the backing of Volvo Cars and Geely Holdings, some analysts believe that PSNY could reach $5 by the end of 2023.

Other analysts are more cautious, given the company’s current losses and the challenges it faces, such as supply chain disruptions and rising costs. They believe that PSNY is more likely to trade in the $2-$3 range in 2023.

Overall, it is important to remember that stock prices can be unpredictable and investors should always do their own research before making any investment decisions.

PSNY Stock Forecast 2023: Is PSNY a good stock to buy?

Here are some reasons to buy PSNY stock:

  • Strong growth potential: Polestar is a fast-growing electric vehicle company with ambitious plans to expand its production capacity and enter new markets.
  • Strong backing from Volvo Cars and Geely Holdings: Polestar has the financial and operational support of two major automotive companies.
  • Commitment to sustainability: Polestar is committed to reducing its environmental impact and achieving zero emissions by 2030.
  • Innovative products and services: Polestar is developing innovative products and services, such as its Polestar 0 project, which is a subscription-based service that offers customers access to a fleet of Polestar vehicles.

PSNY Stock Forecast 2023: Reasons Not to Buy PSNY Stock

Here are some reasons not to buy PSNY stock:

  • High valuation: PSNY stock is trading at a high valuation, given its current losses and the challenges it faces. This means that investors are paying a premium for the company’s potential.
  • Volatile stock price: PSNY’s stock price has been volatile since its IPO and is likely to remain volatile in the near future. This makes it a risky investment for investors who are averse to volatility.
  • Unclear path to profitability: Polestar is not yet profitable and it is unclear when it will be able to achieve profitability. This is a major concern for investors who are looking for investments that can generate returns in the near term.
  • Competition from established players: Polestar is facing competition from established electric vehicle manufacturers, such as Tesla, Rivian, and Lucid. These companies have a head start in terms of production capacity, brand recognition, and customer base.
  • Potential for supply chain disruptions: The automotive industry is facing supply chain disruptions, which could impact Polestar’s production and delivery targets.

Overall, PSNY is a risky investment with a number of potential drawbacks. Investors should carefully consider their risk tolerance and investment goals before investing in PSNY stock.

Also Read: Ford Stock Forecast 2022

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.

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