Polestar Automotive delays the publication of its first quarter earnings report

Swedish electric vehicle manufacturer Polestar Automotive Holding UK PLC (NASDAQ:PSNY) confirmed to the media that it is delaying the publication of the first quarter results report. The company is yet to file its annual report for the year ended December 2023. This the report was to be delivered as soon as possible.

Polestar (PSNY) is delaying its report due to the significant amount of time needed to finalize its financial statements due to accounting errors in 2021 and 2022. These misstatements will be corrected in the 2023 report.

Earlier this month, Polestar (PSNY) received a shortfall notice on the Nasdaq stock exchange due to late reporting.

Shares of Polestar (PSNY) closed on Wednesday at $0.92. The 52-week range for EV stocks is $0.91 to $4.96. Short interest on PSNY is 6.5% of the total interest rate.