Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) Sees Large Growth in Short Interest

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 15,848 shares, a growth of 143.8% from the March 15th total of 6,501 shares. Based on an average daily trading volume, of 10,497 shares, the short-interest ratio is currently 1.5 days.

Polestar Automotive Holding UK Trading Up 0.4%

NASDAQ PSNYW traded up $0.01 on Monday, hitting $3.81. 3,207 shares of the stock were exchanged, compared to its average volume of 8,609. Polestar Automotive Holding UK has a 52-week low of $2.33 and a 52-week high of $24.00. The company’s 50-day moving average price is $3.80 and its two-hundred day moving average price is $5.34.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A hedge fund recently bought a new stake in Polestar Automotive Holding UK stock. Boothbay Fund Management LLC acquired a new position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 80,000 shares of the company’s stock, valued at approximately $510,000.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK plc is a special-purpose acquisition company (SPAC) incorporated in the United Kingdom with the primary objective of effecting a business combination, share exchange, asset acquisition or similar merger transaction with one or more businesses in the automotive sector. The company’s management team, supported by affiliates of The Gores Group and Guggenheim Partners, completed its initial public offering in mid-2021 and its units trade on the Nasdaq under the symbol PSNYW.

The SPAC was specifically formed to combine with Polestar Performance AB, the electric performance carmaker backed by Volvo Cars and Zhejiang Geely Holding Group.