Why Polestar Automotive Stock Just Crashed
Yahoo Finance ·
Polestar Automotive Holding UK PLC ( PSNY -28.96% ) stock got demolished this morning, falling 29.4% through 1:50 p.m. ET after reporting earnings for H1 2026. Wall Street wasn't expecting much from the stock in its report, predicting Polestar would lose money in the quarter. Investors seem to have been taken by surprise, however, by precisely how bad the news was. How bad was it? Comparing H1 2026 to H1 2025, Polestar sold 0.4% more electric cars, and made 4.4% less money doing so ($1.4 billion). Gross profit margin improved slightly, but remained negative -- meaning every car Polestar sold was worth more as parts than as a whole. Selling, general, and administrative expenses were unchanged year over year, however, and increases in other operating costs were largely offset by decreases in spending on research and development . As a result, while operating margins were also negative, total operating and net losses declined in the quarter.
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