Short Interest in Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) Increases By 33.8%

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) was the target of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 6,176 shares, a growth of 33.8% from the January 29th total of 4,616 shares. Based on an average trading volume of 4,409 shares, the short-interest ratio is presently 1.4 days. Based on an average trading volume of 4,409 shares, the short-interest ratio is presently 1.4 days.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A hedge fund recently bought a new stake in Polestar Automotive Holding UK stock. Boothbay Fund Management LLC purchased a new stake in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 80,000 shares of the company’s stock, valued at approximately $510,000.

Polestar Automotive Holding UK Price Performance

Polestar Automotive Holding UK stock traded up $0.23 during trading hours on Wednesday, hitting $3.33. The stock had a trading volume of 6,791 shares, compared to its average volume of 8,328. The business’s 50 day simple moving average is $3.85 and its 200-day simple moving average is $6.12. Polestar Automotive Holding UK has a one year low of $2.33 and a one year high of $24.00.

Polestar Automotive Holding UK Company Profile

Polestar Automotive Holding UK plc is a special-purpose acquisition company (SPAC) incorporated in the United Kingdom with the primary objective of effecting a business combination, share exchange, asset acquisition or similar merger transaction with one or more businesses in the automotive sector. The company’s management team, supported by affiliates of The Gores Group and Guggenheim Partners, completed its initial public offering in mid-2021 and its units trade on the Nasdaq under the symbol PSNYW.

The SPAC was specifically formed to combine with Polestar Performance AB, the electric performance carmaker backed by Volvo Cars and Zhejiang Geely Holding Group.