PSNY, meme stock potential? via /r/wallstreetbets #stocks #wallstreetbets #investing

PSNY, meme stock potential?

PSNY got absolutely fucked this week. It went from like 9 dollars to 6.75 a share, absolute blood bath.

That being said, PSNY is not a fail company like Bed Bath and Beyond. They actually make sexy electric cars and have been meeting all of their production goals. Additionally they scored a deal with Hertz for 50 thousand of their Polestar 2s.

This is my theory and you can dismiss it as retarded as you want but I think one of the reasons they got mogged is because a lot of their production is still in China which is getting bent over backwards by lock downs and climate change disasters.

Fortunately though, Polestar is moving production to the USA and their upcoming Polestar 3 will be manufactured exclusively in South Carolina. Their big reveal and pre orders of the Polestar 3 begin in October and being that it is an SUV I suspect it will sell very well.

I think Tuesday may be an excellent time to buy the dip.

Submitted September 03, 2022 at 03:51AM by WhitewolfKevin
via reddit