Polestar (NASDAQ:PSNY) stock is a hot topic on Thursday after the electric vehicle (EV) company announced a new record for deliveries.
According to a press release from Polestar, the company delivered a total of 13,900 EVs during the third quarter of the year. That’s a massive 50% increase compared to its EV deliveries for the third quarter of 2022.
Polestar notes that the Polestar 2 was a major contributor to its increased EV deliveries. The company also mentions that its nine-month deliveries for 2023 have reached 41,700. With one quarter left to go, the company expects deliveries for the full year of 2023 to range from 60,000 to 70,000 EVs.
Thomas Ingenlath, CEO of Polestar, said the following about the news:
“We have delivered a strong quarter and expect higher margins for the rest of the year, as we continue to prioritize value over volume in our business. We will soon have a compelling range of three distinctive cars, including two luxury SUVs, each addressing an exclusive luxury EV segment. With this, Polestar enters an exciting new period.”
What’s Next for PSNY Stock?
Investors will want to keep an eye on PSNY stock in the weeks to come. The company is preparing to release its earnings report for the third quarter of 2023. It will do so on Nov. 8, 2023, after markets close. That release will provide traders with further insight into the company’s financial performance for the quarter.
PSNY stock is down 1.1% as of Thursday morning despite the EV delivery data.
Investors on the lookout for more of the most recent stock market stories will want to keep reading!
We’ve got all of the hottest stock market news traders need to read about on Thursday! A few examples include why shares of Rivian (NASDAQ:RIVN), BlackBerry (NYSE:BB) and MaxCyte (NASDAQ:MXCT) stock are in the news today. All of this news is ready to go at the links below!
More Stock Market News for Thursday
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- Why Is MaxCyte (MXCT) Stock Down 21% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
