PSNY Stock Forecast: Will PSNY Fall Below $5?
PSNY Stock Forecast: For Monday we predict the price of PSNY stock to fall further. Our trade recommendation is Sell. 12 months Target Price for PSNY set at $12
PSNY Stock Forecast: Latest Price
PSNY Stock Performance
- 1 M: +43.4%
- 3 M: -4.3%
- YTD: -44.9%
PSNY Stock Technical Analysis
PSNY stock retreated on Friday. PSNY is struggling to breach the resistance at $7.99. On September 15th, the price of PSNY stock started to fall after it tested this resistance level and went close to $4. On November 25th, after the curve-shaped recovery PSNY once again retreated after testing this resistance level.
Currently, the support for PSNY stock is $6.61. If the stock falls below it, we may see PSNY reaching close to $4 once again.
With more sellers taking part, RSI has also reversed, and once again it is heading toward the oversold zone. PSNY still has enough room before it enters the oversold territory.
For Monday we predict the price of PSNY stock to fall further. Our trade recommendation is Sell.
PSNY Stock Forecast: Is it a Buy?
- Polestar 2 has a customer rating of 7.9 which is decent but not a brilliant rating. Tesla Model 3 is rated at 8.4
- Polestar has done a great job on production despite many issues including COVID
- First Half sales were $1 Billion and delivered a gross profit of $53 Million which is significantly lower as a % compared to the $3B on $18 that Tesla earned in Q1 this year
- Polestar is currently valued at $11 billion for a likely profit of anywhere between $100 and $150 M (Extrapolating from First Half data) for the year.
- Given Polestar’s size and future sales estimates, it is likely to see a 6-10 fold jump in earnings in the next 3 years.
- However, there is no reliable basis to say any of these estimates will come through
- This is why the new launch this week is important. A launch response and consumer experience which turns out well could boost the stock in the next few weeks.
PSNY Stock Forecast: Latest News
Polestar receives funding from Volvo and Li Shufu: Polestar has recently announced that its major shareholders Volvo and Li Shufu agreed to financially support Polestar. Volvo is providing an $800 million loan for 18 months with an equity conversion option. Li Shufu is also providing $800 million. PSNY also told that they are progressing towards their goal of 50K car deliveries in 2022 and planning to launch 3 new models by 2026.
PSNY Stock Forecast: Q2 Results
- The company’s total revenues were declared as $435 million, up 109.5% Y-o-Y.
- The company’s operating loss was -$196 million.
- Its net income was $300 million.
- Its gross profit (loss) was $4 million, down 112% Y-o-Y.
- The diluted net loss per share was declared as $0.14.
- The company delivered 30k units by the 3rd quarter.
- The stock price increased by around 20% after the release of the quarterly results.
PSNY Stock Forecast 2022
Also Read: Ford Stock Forecast 2022
PSNY Stock Forecast
|1. Market's Wisdom||Partially Negative|
|1a. Market Data||Neutral|
|1b. Technical Recommendation||Sell|
|2. Crowd's Wisdom||Neutral|
|2a. Social Media Buzz||Neutral|
|2b. Social Media Sentiment||Neutral|
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.