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Polestar has obtained a warning from the Nasdaq inventory trade that it dangers being delisted after its shares fell beneath the minimal bid value required for continued itemizing.
The Swedish electrical automobile model, backed by Volvo Automobiles and China’s Zhejiang Geely Holding Group, confirmed on Friday (October 31) that it had obtained a proper discover from Nasdaq advising it was not in compliance with the trade’s US$1.00 minimal bid value requirement.
Beneath Nasdaq guidelines, Polestar has 180 calendar days – till April 29, 2026 – to carry its American depository shares again above US$1.00 for a minimum of 10 consecutive enterprise days. If it fails to take action, the corporate may obtain one additional 180-day extension earlier than being faraway from the trade.
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Polestar stated the discover “has no rapid affect” on its Nasdaq itemizing and that buying and selling in its shares will proceed as regular whereas it really works to regain compliance. On the time of the discover, Polestar’s inventory closed at US$0.84, having fallen about 20 per cent to this point this yr following a 50 per cent drop in 2024.
It’s the second time the corporate has been placed on discover by the US trade, after the same compliance concern in 2024 linked to a delay in submitting its annual outcomes.
Polestar’s shares have slumped amid continued losses, cash-flow issues, and intensifying competitors within the international EV market. The model, which floated on Nasdaq in 2022 through an SPAC merger, has struggled to take care of investor confidence regardless of increasing its mannequin vary from the Polestar 2 sedan to the brand new Polestar 3 giant SUV and Polestar 4 mid-size SUV.
Polestar bought simply 44,851 automobiles globally in 2024, which was a 15 per cent lower from 2023 (52,796). To place that in context, Tesla bought extra automobiles simply in Australia final yr than Polestar bought globally.
Trade analysts have pointed to margin strain and a slowdown in EV gross sales progress globally, with reductions and leasing incentives weighing on profitability. Shoppers have seemingly additionally struggled to just accept or take care of the model’s deep concentrate on its obvious environmental credentials.
For Australian patrons, Polestar’s monetary troubles could not translate to rapid product disruption, however they do elevate questions concerning the long-term power and viability of the model. Thus far in 2025, to the tip of September, Polestar has bought simply 1867 automobiles in Australia.
MORE: Discover the Polestar showroom
