|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||28.63 - 30.28|
|52 Week Range||21.39 - 62.19|
|Beta (5Y Monthly)||1.05|
|PE Ratio (TTM)||17.56|
|Forward Dividend & Yield||0.54 (2.33%)|
|Ex-Dividend Date||Jun 02, 2022|
|1y Target Est||N/A|
One of the hottest automotive brands for some time now in the premium and luxury space is Volvo. The Swedish automaker had a strong October with sales up nearly 9% year over year, with its Recharge EV model sales up 20% compared to a year ago. But despite the good performance, the effects of the lingering supply chain crisis that plagues the industry still remains.
For Polestar CEO Thomas Ingenlath, the EV-maker’s first gross profit as a public company wasn’t the biggest takeaway from Q3.
Polestar on Friday reported a smaller third-quarter operating loss as revenue more than doubled and the company cut spending, sending shares soaring 25% in early trading. The Swedish carmaker, founded by China's Geely and Volvo Cars, posted an operating loss of $196.4 million, down from $292.9 million a year ago, while revenue rose to $435.4 million from $212.9 million. Polestar, which listed on the Nasdaq exchange in June via a merger with a special-purpose acquisition company (SPAC), said rising costs for raw materials used to make its batteries had not yet fully hit because of set contracts.