Geely Automobile Holdings Ltd.-backed (OTC:GELYF) (OTC:GELHY) Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares are up during Thursday’s premarket session.

Polestar reported record first-quarter retail sales of 13,126 vehicles, up 7% from a year earlier.

The company has significantly expanded its retail footprint, with 230 locations, up from 154 a year ago, marking a 50% increase.

Polestar said it expects to grow its network to about 250 locations by the end of the year, representing a 20% increase from the end of 2025.

Chief Executive Michael Lohscheller said the company has remained resilient in a challenging market, citing strong performance in Australia, Germany, Sweden, South Korea, and the United Kingdom.

Product Expansion Plans

In February, Polestar outlined plans to launch four new electric vehicles over the next three years as it broadens its lineup and targets higher-volume segments to improve operating performance.

The company said the initiative represents its largest product push to date, with four new models planned between 2026 and 2028.

Technical Analysis

At $21.00, Polestar is trading 18.2% above its 20-day simple moving average (SMA) of $17.77, indicating a strong short-term trend. It is also 19.1% above its 100-day SMA of $17.63, suggesting positive momentum over the intermediate term. However, the stock is trading 12.2% below its 200-day SMA of $23.93, which could indicate longer-term challenges.

The relative strength index (RSI) is currently at 65.67, suggesting that the stock is nearing overbought territory, which may lead to a pullback if buying pressure decreases. The moving average convergence divergence (MACD) shows a bullish signal, with the MACD line at 0.6187 above the signal line at 0.2037, indicating upward momentum.

  • Key Resistance: $23.50 — This level may act as a barrier for upward movement.
  • Key Support: $21.00 — This level could provide a floor for the stock if it declines.

Polestar’s 12-month performance shows a decline of 33.91%, reflecting the challenges the company has faced over the past year. The stock is currently positioned in the middle of its 52-week range, which suggests it may be stabilizing after previous volatility.

Recent Analyst Moves

  • Cantor Fitzgerald: Downgraded to Underweight (February 19)
  • Barclays: Underweight (Raises Target to $15.00) (January 23)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Polestar, highlighting its strengths and weaknesses compared to the broader market:

  • Momentum: Bullish (Score: 83/100) — Stock is outperforming the broader market.

The Verdict: Polestar’s Benzinga Edge signal reveals a momentum-driven story, indicating strong performance relative to the market. However, the company must address its long-term challenges to maintain this upward trajectory.

Top ETF Exposure

  • SPDR S&P Kensho Smart Mobility ETF (NYSE:HAIL): 1.85% Weight

Significance: Because PSNY carries meaningful weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

PSNY Stock Price Activity: Polestar shares were up 1.84% at $21.00 during premarket trading on Thursday, according to Benzinga Pro data.

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