Our fees are changing on 4 March 2023. Learn more.

When you invest, your capital is at risk.

Share

How To Buy Polestar Stocks (PSNY)

A new EV company begins trading to take on Rivian & Tesla.

Polestar stock started trading on the Nasdaq on June 24 2022. With the ticker symbol PSNY, the Polestar stock price finished its first day of trading at $13.

How to buy Polestar (PSNY) stock

Want to start buying PSNY shares but not sure how? Learn how to buy Polestar stock on the Stake stock trading platform below.

1. Find a stock trading platform

To buy shares listed on the U.S. stock market, you'll need to sign up to a broker with access to Wall St. There are a number of share trading platforms in Australia, of which Stake is one.

2. Fund your account

Complete an application with your personal and financial details. Fund your brokerage account with a bank transfer, debit card or even Apple/Google pay.

3. Search for Polestar Automotive

Find the share by name or ticker symbol: PSNY. Do your own research to ensure it is the right investment product for your own circumstances.

4. Choose an order type and buy PSNY stock

Buy on any trading day with a market order or use a limit order to delay your purchase of PSNY shares until it reaches your desired stock price. Look into dollar cost averaging to spread out your risk, which smooths out buying at consistent intervals.

5. Monitor your investment

Optimise your portfolio by tracking how your stock and the business perform with an eye on the long term. You may be eligible for dividends and shareholder voting rights that affect your stock.

Polestar summary

Volvo controlled EV brand Polestar has gone live on the U.S. stock market under the ticker PSNY following its SPAC deal with Gores Guggenheim.

Polestar agreed to merge with a special purpose acquisition company (SPAC) back in September 2021, with the merger now all wrapped up.

The deal values Polestar at roughly US$21b and provides the company with $850m in cash, as it expands beyond its single model.

Polestar is expected to launch two new series by the end of the year, which it says will compete with various models made by rival Porsche.

The company expects to ship 50,000 units this year, with 124,000 EVs shipping in 2023.

The listing will float only 6 percent of Polestar’s stock, with the remainder being held by Volvo, Volvo parent company Geely Holding and Hollywood star Leonardo DiCaprio, an early investor.

The company brands itself as the only other global “pure-play” EV brand after Tesla. Check out our guide on the top electric vehicle stocks if you are interested in the sector.

Sign up to Stake and invest in one of the biggest EV companies in the world.


Don’t have Stake?

Start ahead of the game. Get a free stock in one of Nike, Dropbox, GoPro or a mystery stock when you sign up and fund your account within 24 hours.

When you invest, your capital is at risk.

Related


Stake logo
Download Stake
App Store logo
Google Play logo
The value of investments can go up as well as down and you may receive back less than your original investment. Any advice is of a general nature only. As investments carry risk, before making any investment decision, please consider if it’s right for you and seek appropriate taxation and legal advice. The information on our website or our mobile application is not intended to be an inducement, offer or solicitation to anyone in any jurisdiction in which Stake is not regulated or able to market its services. At Stake, we’re focused on giving you a better investing experience but we don’t take into account your personal objectives, circumstances or financial needs. Please view our Terms & Conditions, Privacy Policy and Disclaimers before deciding to use or invest on Stake. By using the Stake website or service in any way, you agree to our Privacy Policy and Terms & Conditions. All financial products involve risk and you should ensure you understand the risks involved as certain financial products may not be suitable to everyone. Past performance of any product described on this website is not a reliable indication of future performance. Stake is the trading name of Hellostake Limited (no. 11676409), authorised and regulated by the UK Financial Conduct Authority (FRN: 830771).

Copyright © 2023 Stake. All rights reserved.