Posted on 11/13/2025 5:29:52 AM PST by thegagline
*** On Wednesday, Swedish automaker Polestar announced plans for a reverse stock split in a bid to avoid being delisted from the exchange — a move that slashes the number of shares in circulation but boosts their per-share value.
For example, a one-for-ten split would turn ten shares trading at $1 into a single share worth $10.
Companies typically attempt these reverse splits when their stock has fallen so low that they risk losing their stock-market listing — it’s a cosmetic fix that can buy time, but rarely changes the underlying problems.
Wall Street wasn't impressed. The stock plunged nearly 12 percent Wednesday to just $0.22 a share.
It extends a brutal slide that’s left the once-hyped Tesla rival below Nasdaq’s minimum listing threshold of $1.
Polestar, a spin off from Volvo, has been trading south of that threshold for weeks amid mounting debt, production delays, tariffs, and a suddenly shaky roadmap for electric vehicles. *** And, the automaker is set to launch its next model, the Polestar 4, in the US by December. *** The Polestar 4's sales are crucial to the company, which discontinued its China-made Polestar 2, its previous best-seller, in April. The company had to withdraw the car from the US market due to massive tariffs on Chinese-built vehicles.
US sales have since relied on the high-end, $68,000 Polestar 3 SUV.
Sales of the new car are up, with revenue climbing 36 percent last quarter. Still, rising costs from quickly depreciating cars have led to a larger cash crunch.
The EV maker, which is majority-owned by China's Geely Holding and a spin-off of luxury automaker Volvo, reported a $365million loss in the third quarter — worse than the $323million it lost during the same period last year.
***
(Excerpt) Read more at dailymail.co.uk ...
Why does it stun anyone that no one wants EVs unless the cost of buying them is heavily - heavily - subsidized by tax and other incentives? And now that we have some history with a large number of owners driving them for a long period, its becoming increasingly evident how costly they are to own and ultimately, get rid of.
They tried to pimp electric cars back in the 20s and 30s and they didn’t sell then either.
As soon as we get through this climate chnage crap...we can go back to our sturdy, gas cars.
“once there is a reliable and affordable solid state battery”
That fully charges in about the same time it takes to fill a 25 gallon gas tank and is proven to not catch fire for any reason including salt water intrusion.
This is stunningly financially illiterate.
The stock has been tanking for months. THAT was the news, such as it is. The reverse split is merely a maneuver used by poorly performing companies every day of the week.
EVs are indeed faring poorly, while hybrids are the hot spot of growth. Overall, EV + hybrid sales are up 23% year-to-date. Polestar has never been mainstream here: it has a weak dealer network and it (with its sister Volvo) had awful reliability issues.
Tesla reported record Q3 unit sales and revenues.
And Tesla is making electric power units.
Big part of their business.
Not all EV companies are the same.
“The Electric ⚡⚡⚡ Car industry is dead? “
Nope.
Look at EV sales in China, currently bigger than the US and Europe combined.
The bigger issue here is that more and more sectors of the modern economy are built on corporate-government fascism and wouldn’t even exist at all without massive government support — either through taxpayer subsidies or through legal and regulatory mandates that artificially inflate demand for these products and services.
Yes, EV’s powered by coal generation plants to produce the electricity. Is that the future?
The EV was always a niche product. There’s a place in the market for it just not a huge one.
Well with 1.4+ billion people I would imagine so
Then again I have no idea about gasoline ⛽⛽⛽
distribution vs electric ⚡⚡⚡ power distribution
and directives of the CCP in China
But interesting ... 🤔🤔🤔
Correct. They are workable in a yuppie suburban environment, but no so much for urban apartment dwellers and section 8 types. And not reliable enough for country folks living in the heavy snow belt.
The tennessee Valey authority is building a fusion reactor on the site of the closed and demolished Bull Run Steam Plant.
The second best selling car model in the whole world is a Tesla model Y
>I expect that this will occur sometime after a viable cold fusion reactor is invented.(joking)
So about 20 years out? For the next 60 years . . . ?
When all the oil is gone...
Chinese automaker trying to force the EV mandate.
Cue Bela Lugosi. EVs will not go away anymore than “Climate Change”. They will rise from the dead, until a stake is driven through the heart.
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