An update from Polestar Automotive Holding UK PLC Sponsored ADR Class C ( (PSNYW) ) is now available.
Polestar Automotive Holding UK PLC announced on January 14, 2025, that it will restate its financial statements for certain periods due to identified errors. These errors, related to balance sheet entries concerning unique tooling, resulted in underreported assets and liabilities but do not affect previously reported financial metrics or the company’s underlying operations. The restatement will correct the classification of assets under construction and adjust cash flow classifications. The company is working on finalizing these adjustments and assessing their impact on internal financial controls. Stakeholders have been advised not to rely on previous financial statements until the restatements are completed.
More about Polestar Automotive Holding UK PLC Sponsored ADR Class C
Polestar Automotive Holding UK PLC is a company specializing in the automotive industry, focusing on the production of electric vehicles. It operates with a unique tooling process utilized in the manufacturing of its vehicles, positioning itself within the growing sector of electric mobility.
YTD Price Performance: 51.33%
Average Trading Volume: 420,520
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.48B
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