Why Polestar Stock Jumped Today
Polestar Automotive (NASDAQ: PSNY) seems to be gaining momentum as electric vehicle (EV) deliveries accelerated in the second quarter, and management foresees even stronger sales as the year progresses.
That momentum is lifting shares of the EV maker, which is majority-owned by Geely Holding and . As of 1 p.m. ET Friday, Polestar stock was up by 12.2%. That followed its 13% gain on Thursday as investors absorbed its earnings report and news of a new CEO.
Effective Oct. 1 Michael Lohscheller, who previously served as CEO of traditional automotive marque Opel and EV start-ups VinFast Auto and Nikola, will take over as Polestar CEO. That appointment comes as the company is beginning to quickly ramp up production volume. Its second-quarter vehicle deliveries soared by 82% from the first quarter to 13,150 units.
Source Fool.com
