Polestar falls after EV maker cuts full-year delivery forecast
PSNY•Second-quarter results
Q2 net loss narrowed to $459 million as the company recorded a $724 million impairment in the year-ago period.
It reported Q2 revenue of $727 million, an 8% decline from a year earlier.
Up to the last close, PSNY was down about 44% this year.
Shares fall after forecast cut
Shares of electric-vehicle maker Polestar PSNY.O fell 5.7% to $11.32 in volatile premarket trading.
PSNY cut its full-year delivery forecast, hurt by Washington's crackdown on Chinese-linked vehicles that forced it out of the U.S.
The Swedish company now expects annual volume growth to be in low-to-mid single digit, versus its previous forecast of low double-digit growth.
