Market News

Here’s Why Polestar Shares (NASDAQ: PSNY) Plunged Today

Shares of EV manufacturer Polestar Automotive (NASDAQ: PSNY) fell more than 13% in today’s trading session. This can be attributed to the ongoing unrest in China due to the country’s strict lockdown policy.

Investors seem to be worried that Polestar’s production and supply chains may be disrupted as a result of the protests.

Is PSNY a Good Stock to Buy?

PSNY stock has a Hold consensus rating based on one Buy, one Hold, and one Sell assigned in the past three months. The average PSNY stock price target of $10.50 implies over 53% upside potential.

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