Polestar Automotive Holding UK (NASDAQ:PSNYW) Trading Up 7.6% – Here’s What Happened

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW)’s stock price was up 7.6% on Monday . The company traded as high as $4.20 and last traded at $4.24. Approximately 1,604 shares were traded during trading, a decline of 82% from the average daily volume of 8,784 shares. The stock had previously closed at $3.94.

Polestar Automotive Holding UK Stock Performance

The business has a 50 day moving average price of $3.72 and a two-hundred day moving average price of $5.48.

Institutional Trading of Polestar Automotive Holding UK

A hedge fund recently bought a new stake in Polestar Automotive Holding UK stock. Boothbay Fund Management LLC acquired a new stake in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,000 shares of the company’s stock, valued at approximately $510,000.

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.