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Why Polestar Stock Is Plummeting Today

TheMotleyFool

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Why Polestar Stock Is Plummeting Today: https://g.foolcdn.com/editorial/images/710929/660410_20221012_polestar_3.jpg

Shares of the Swedish electric vehicle (EV) maker Polestar Automotive Holding (NASDAQ: PSNY) were tumbling today after COVID-related protests arose in China over the weekend. The company manufactures its Polestar 2 vehicles in Luqiao, China, and investors are concerned that the automaker's production will slow down as a result of the unrest.

The EV stock was down by 11% as of 1:54 p.m. ET on Monday.

China has maintained a very strict zero-COVID policy to fight outbreaks of the coronavirus, but citizens started new protests over the weekend to fight the restrictions.

Source Fool.com

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