Polestar: Don't Rush To Buy The Crash

The Asian Investor 33.13K Followers Follow Summary Polestar reported Q2 earnings that missed on revenues amid continual delivery challenges. Polestar also lowered its production guidance for FY 2026, seeing only as much as 5% Y/Y growth. PSNY's Q2'26 deliveries dropped 4% in the second-quarter, leading to a revenue decline on a year-over-year basis of 8.1%. The EV firm continued to see negative gross margins in its core EV manufacturing business as well as elevated free cash flow. Shares trade at a distressed 0.3x forward price-to-revenue multiple, reflecting investor skepticism amid weak unit economics and reduced EV incentives. I maintain a 'Sell' rating, citing insufficient delivery scale, negative free cash flow, and ongoing risks to achieving sustainable profitability. SEDAT TEZGUL/iStock Unreleased via Getty Images Sweden-based electric vehicle company Polestar ( PSNY ) reported mixed results for the second fiscal quarter on September 3, 2026 that showed a revenue miss, but also record deliveries on a H1'26 level, with the Polestar 4 This article was written by The Asian Investor 33.13K Followers Follow I am interested in a lot of technology and AI stocks like Google, Nvidia, AMD, Tesla and Amazon. Analyst’s Disclosure: I/we have a beneficial long position in the shares of LCID either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.