Rumor: Polestar ($PSNY) planning reverse stock split to stay on NASDAQ
Polestar ($PSNY) is rumored to consider a 1:30 reverse stock split to raise its share price above NASDAQ's $1.00 minimum, potentially increasing it to $15.90. Despite a 36.5% retail sales increase and 48.8% revenue growth, Polestar's share price dropped over 35%, risking NASDAQ delisting. The reverse split aims to prevent this by boosting the share price before the end of 2025.
In a bid to get it above the $1.00/share NASDAQ-required minimum, fledgling EV brand Polestar ($PSNY) is rumored to be considering a 1:30 reverse stock split that could see the per-share price rocket up to nearly $16.
Geely-owned Volvo spinoff Polestar is working as hard as Tesla to prove that stock prices have little or nothing to do with traditional business fundamentals in 2025.
That’s because Polestar posted a 36.5% increase in retail sales and a heady 48.8% increase in revenue (to $2.17 billion) over the year before, Polestar’s share price has plummeted more than 35% in a matter of a few weeks –culminating in an unwelcome nastygram from NASDAQ threatening to delist the company’s shares from the NASDAQ if they didn’t climb back up above $1.
It looks bad
To goose the share price, CarScoops is reporting that Polestar aims to move forward with the reverse stock split before the end of 2025. The expected 1:30 reverse split would boost the PSNY price to an estimated $15.90 per share at current prices, keeping the brand well out of risk of a delisting.
