Polestar Auto (PSNY) Surges 25.7% as Retail Sales Hint at Strong Q2

We recently published 10 Stocks With Double-Digit to 100% Upside in Just a Week. Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is one of the worst performers on Friday.

Polestar Automotive soared by 25.69 percent week-on-week, as investors repositioned portfolios ahead of the release of its earnings performance in the first half of the year.

According to the company, it is scheduled to announce its financial and operating highlights for the second quarter on Wednesday, September 3, before market open. An investor call will be held at 8 AM Eastern Time to elaborate on the results.

Already, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) hinted at a strong second quarter despite global trade uncertainties, after achieving a 38-percent growth in retail sales volume at 18,049 units versus the 13,072 in the same comparable period.

The total figure bolstered its first half retail sales volume by 51 percent to 30,319 from 20,047 year-on-year.

“Volume growth of 38% in the second quarter and 51 percent in the first half of the year is a clear sign that our retail expansion is delivering and that more customers are choosing Polestar,” Polestar Automotive Holding UK PLC (NASDAQ:PSNY) CEO Michael Lohscheller said earlier.

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Disclosure: None. This article is originally published at Insider Monkey.