$Polestar Automotive(PSNY)$above 5 mil trading volume yesterday & the price stayed above US$10. Things could have gone the other way and the price might likely have trended southwards below US$10 in the face of the Jun CPI numbers, if not for Polestar's media release about their delivery numbers in the 1st half of 2022 and their confidence in getting the requisite delivery numbers in the 2nd half of 2022 to meet their 50000 total deliveries target. I firmly believe that if we were in a bull market, there'd have been a substantial pop in stock price beyond the current price but alas, the current bear market (with a potential recession in the horizon) has put a real dampener on any substantial upward price movement.

Additionally, Polestar investors need to brace themselves for potentially more turbulence ahead as about 19 mil more shares will be released into the public float come 25 Jul, after the expiry 30-day lock-up period for shares held by GGI Sponsors. As stated in my previous post, some of these shares were bought at below US$10 & if the shareholders decide to take profit, we could potentially see downward pressure on stock price. That said, there's always the possibility the majority doesn't sell, just as it was in LCID's case, and stock price won't be affected too much.

All said, I'm bullish on PSNY in the long-term, especially if we see that they are not just an EV company but a green tech company, similar to industry trailblazer TSLA, and are involved in other non-EV projects. So I may wince with pain when I see PSNY's market price hanging out below my cost price, but I look forward with anticipation to years ahead to seeing PSNY fulfil its potential as a profitable, green tech company.

The above is my own opinion/assessment only and should NOT be taken as financial advice. Always do your own due diligence before investing your money.