Rumor: Polestar ($PSNY) planning reverse stock split to stay on NASDAQ
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Polestar ($PSNY) is rumored to consider a 1:30 reverse stock split to raise its share price above NASDAQ's $1.00 minimum, potentially increasing it to $15.90. Despite a 36.5% retail sales increase and 48.8% revenue growth, Polestar's share price dropped over 35%, risking NASDAQ delisting. The reverse split aims to prevent this by boosting the share price before the end of 2025.
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