Polestar Automotive Holding UK (NASDAQ:PSNYW) Trading Up 14.5% – What’s Next?

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) rose 14.5% on Tuesday . The stock traded as high as $3.30 and last traded at $3.15. Approximately 4,914 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 8,361 shares. The stock had previously closed at $2.75.

Polestar Automotive Holding UK Stock Up 14.5%

The firm has a 50 day moving average price of $4.07 and a 200 day moving average price of $6.18.

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 purchased a new position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 80,000 shares of the company’s stock, valued at approximately $510,000.

About Polestar Automotive Holding UK

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.