Short Interest in Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) Increases By 143.8%

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 15,848 shares, an increase of 143.8% from the March 15th total of 6,501 shares. Based on an average daily volume of 10,497 shares, the days-to-cover ratio is presently 1.5 days.

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) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 80,000 shares of the company’s stock, valued at approximately $510,000.

Polestar Automotive Holding UK Stock Performance

PSNYW stock opened at $3.81 on Tuesday. The firm has a 50 day simple moving average of $3.82 and a 200 day simple moving average of $5.31. Polestar Automotive Holding UK has a 52 week low of $2.33 and a 52 week high of $24.00.

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.