NEW YORK, May 31, 2026, 17:03 (EDT)
- Polestar finished Friday at $23.08, slipping 0.4% on the session but still up 3.7% from last Friday. The move came during a U.S. trading week shortened by Memorial Day.
- The Nasdaq Composite gained roughly 2.4% over the period as Wall Street pushed to new highs to close out May.
- As June starts, investors are focused on Polestar’s cash burn and tariff risk, with attention also on a shareholder meeting set for late in the month. There’s no earnings date coming up soon.
Polestar Automotive Holding UK PLC picked up a 3.7% gain for its Nasdaq shares in the shortened U.S. trading week. The stock edged down 0.4% to $23.08 on May 29, but was still higher than the prior Friday. The week had four trading days because of Monday’s Memorial Day closure. Nasdaq opens again at 9:30 a.m. Eastern.
This matters because the move happened with markets closed over the weekend—not during trading hours. It landed while the broader market was strong, with the Nasdaq Composite ending Friday at 26,972.62. That was a 0.2% gain for the session and up 2.4% since May 22.
Wall Street’s rally was a boost. U.S. indexes closed at new highs Friday as tech stocks climbed and markets looked for signs of a Middle East deal. That shift gave EV stocks a more positive setup than earlier this year.
Polestar’s numbers don’t look as clear. On May 7, the company reported first-quarter retail sales of 13,126 cars, a 7% gain year over year. Revenue came in almost unchanged at $633 million. Gross margin flipped to negative 3.2%. Net loss widened to $383 million.
Polestar CEO Michael Lohscheller said the quarter saw “strong volume growth in a very competitive market.” But Lohscheller said the company is also working to “become leaner and improve manufacturing efficiencies.” Polestar closed the quarter with $676 million in cash.
Polestar is still in the mix with names like Tesla, Rivian and Lucid, but right now it’s dealing with more urgent problems. Tariffs, tougher competition, import duties and currency moves have already started to eat into its cost progress.
Polestar is betting on new models instead of just trying to improve its financing. Reuters said in February that Polestar has updated versions of the Polestar 2 sedan and Polestar 4 SUV coming. The Polestar 5 grand tourer is supposed to reach customers this summer, and a South Korean-made Polestar 4 is set for the fourth quarter. CEO Lohscheller told reporters at the time, “We want to be above 100,000 (annual sales) as quickly as we can.” Reuters
Geely support is still baked into the Polestar pitch. Ansgar, CEO at Geely Sweden Holding, told Reuters Polestar is a “very strong brand” and has “good opportunities moving forward.” Lohscheller said the focus now is “establishing Polestar as a premium company.” Reuters
No Polestar earnings are set for this week. The next company event comes June 26 with the annual meeting in London. Shareholders will vote on directors and the appointment of PricewaterhouseCoopers as auditor. U.S. holders of American Depositary Shares have until June 22 to send voting instructions. ADSs are certificates from banks that let U.S. investors trade shares of foreign firms.
Another date on the balance sheet is coming up later in June. According to a March filing, Snita Holding struck a deal to turn around $339 million of Polestar loan principal into equity through two tranches. The second tranche, about $65 million, has a June 30 deadline. While debt-for-equity swaps like this can cut down on borrowing pressure, they also dilute existing shareholders, who end up with a smaller stake in the company.
The reversal could be fast if the market slips or worries about Polestar’s funding crop up again. Cantor Fitzgerald’s Andres Sheppard cut Polestar to Underweight from Neutral in February. He pointed to lower deliveries, more capital needed, the stock’s run, and what he called an “unclear” approach on autonomy. Cantor said the guidance change may lower 2026 revenue forecasts by 16%, and called the update “disappointing.” TipRanks
Buyers seemed ready to shrug off those worries for at least a week, by the look of the price action. Next month will show if there’s real interest in Polestar’s turnaround, or if shares just rode the Nasdaq’s rally.
