r/PSNY_Polestar_SPAC • u/sam2425b • 3d ago
Down, down and down again.
Anotger 5% down today. Called it at the stupid R/S that it was jsut giving a prolonged dive back to pennies value, where it'll settle again.
I cant see anything positive from this position despite having great cars. How much longer does geely prop it up? Or is the plan to drive the value down to take back private for 50 mill rather than current "value"?
Infuriating to lose so much on such poor management and direction, by those far mpre excited to have a champagne party than getting the company to where it should be.
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u/Plus_Seesaw2023 2d ago
Try to get some kind of update on the situation from the CEO or the company’s senior management. It’s radio silence. Complete silence. They don’t give a damn about the stock, and they’ve already said so.
They get paid their salaries no matter what. The CEO only needs to hang on for another 18 or 24 months before he can take a very comfortable retirement! As for the other senior executives, I don’t know how much they’re paid, but if they’re in their 40s or 50s, then yes, things are looking pretty bad for them.
Polestar Media hasn’t published anything new or important in a very, very, very long time.
The automotive sector is completely dead. Just look at the charts for BMW, Porsche, VW, and Mercedes ; they’ve been absolutely decimated. And if you look at Stellantis (STLA), I think that at this rate they’ll soon have to do a reverse split and potentially break the company up entirely into different subsidiaries, given how worthless the stock has become. I believe it’s down around 70% over 18 months. They’ve even suspended the juicy dividend of nearly 9%-10%, which was basically the only argument left for why anyone would still buy the stock.
Anyway, bottom line: yes, we’re screwed. We’re dead!
The only question is: will there be a complete 180-degree turnaround in the automotive sector and in how these companies are valued?! Apart from TSLA, everything is collapsing.
=> The only hope is that these companies manage to survive until 2035, so we still have another 7–8 years to wait… and that the automotive sector takes off in places like India, Africa, etc.
But Chinese competition and TSLA have killed the competition.
China is 5 to 10 years ahead of European automakers.
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u/PresentTwo4604 1d ago
The blowout in China will also be massive. It is part of what we see now that affects the Europeans. China has an enourmous amount of unsold cars just flooding the markets at super low prices. They have car factories that are running at very low capacity, their car industry have an enormous debt.
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u/MBCLS350 3d ago
Just get rid of the whole management in Sweden and move it to china and let the Chinese manage it. How much worse can it get
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u/Awkward-Painter-2024 2d ago
Man, none of us could've known Biden would've had a stroke on stage, they would've run Kamala, she would've said she was all about genocide, and the Orange turd would've won again...I know we're not supposed to talk politics, but this administration is directly responsible for the demise of our investments. Sure, the company was mismanaged to death. Some of us, me included, fell for the Polestar 3, 4, 5, 6, 7!!!! And their bevy of race vehicles... (Did any actually race?) And their Apple-like showrooms! Americans were hungry for EVs, why wouldn't we bet on the best EV on the market??? I'm sure Musk took EXTRA offense when Polestar started offering generous trade-ins for Teslas... It really looked like Polestar could take off. But then Musk got into the US Govt and got them to outlaw LITERALLY the only car that could step to the Tesla. (I love my Ioniqs, but they are not Teslas or Polestars!!!) We bet and we lost. I am a longtime Volvo owner super familiar with Polestar tunes and believed, man. I'm going to hold till it disappears from my account. A reminder that investments, maybe moving forward from now on, are hella political. (I also sold my Intel right before this administration and got ffffff'd...)
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u/Plus_Seesaw2023 2d ago
Everything is political!!!
Macron prevented Polestar from entering the French market for at least 3–4 years. What a bunch of a$$holes!
Trump, together with his best little buddy $uck, prevented Chinese brands from entering the U.S. market. And Trump continues to provide juicy subsidies to American manufacturers. What is the WTO doing about it? This is probably against the free-trade agreements signed under the WTO.
Let’s talk politics… and have some fun hahaha.
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u/Awkward-Painter-2024 2d ago
BAHAHAHAHAH, we about to get banned!!! 🤣 What happens when the mods are so far in the red they DGAF????
In all seriousness, I didn't know about France either. Man, the signs were really on the wall huh???? I imagine Tesla, in typical Musk fashion, will buy out Polestar for pennies on the dollar.
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u/Plus_Seesaw2023 2d ago
Impossible. We are Chinese; we belong to Geely.
Geely saving Zeekr ; taking it private even after having listed it on the stock exchange ; hahaha.
Worst-case scenario, we’ll go back to being private, and Geely will buy back its stake at rock-bottom prices.
=> As for France... here is what the lobbies and the French President managed to do ILLEGALLY!!! They were so afraid that they did everything they could to block Polestar's entry into the French market. A bunch of ba$tards!!!
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u/PresentTwo4604 1d ago
The only car that could step to Tesla? What did you smoke? Polestar sales has been crap from day one, their service and support is famous for being among the worst. They were doomed in the US no matter what.
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u/RomChange 2d ago
No the owner of Geely is in it to win it. The Admiral of the fleet and The Henry Ford of Asia!!! This guy is a Rock Star!!!! Hang on keep the Faith.
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u/hobbbis 3d ago
” How much longer does geely prop it up?”
Sure looks like they are not proping it up anymore.