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Earnings Call Summary | Polestar Automotive(PSNY.US) Q1 2024 Earnings Conference
The following is a summary of the Polestar Automotive Holding UK PLC (PSNY) Q1 2024 Earnings Call Transcript:Financial Performance:Polestar reported a global vehicle sales increase of 6% in 2023 to 54
PSNY.US's Q1 operating losses widened by 5% year-on-year, and the company has adjusted its business plan in response to tariff barriers and price wars.
Due to increased tariff barriers and intensified pricing pressure faced by electric auto manufacturers, Polestar is further reducing costs after expanding losses in the first quarter.
Today's Morning Movers and Top Ratings: PARA, CRWD, LEN, PYPL and More
CrowdStrike's stock decreased by 2.36% after Piper Sandler changed its rating on the cybersecurity company to "neutral" from "overweight," mentioning valuation concerns.
Polestar Posts Loss, Plans Steps to Offset Tariffs on China-made EVs
Electric vehicle (EV) maker Polestar said it will have to take steps to offset hefty EU and US import tariffs on its Chinese-made electric cars as it posted a first-quarter operating loss on Tuesday. The Swedish-based company, controlled by China's Geely, currently makes all its EVs in China.
Polestar Stock Slumps Despite EV Deliveries Jumping 80%. This Is Why.
Electric vehicle start-up Polestar Automotive sold 80% more cars in the second quarter than it did in the same period of 2023. That wasn't good enough for investors.
Polestar Shares Fall on Widened Net Loss
By Don Nico Forbes Shares in Polestar fell after the company reported a widened net loss for the first quarter, but noted a pickup in car deliveries in the second quarter. Shares were recently down
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