Polestar (PSNY) Gets 17% Boost as EU Ramps Up Trade Deal With Trump

We recently published 10 Stocks With Easy 7-38% Upside in Just a Day. Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is one of the best performers on Wednesday.

Polestar surged for a second straight day on Wednesday, jumping 17.12 percent to close at $1.3 apiece as investors reacted positively to news that the European Union was expediting efforts to remove tariffs on US industrial goods in a bid to meet trade conditions jointly approved with President Donald Trump.

The move sparked optimism among investors for European firms, including Polestar Automotive Holding UK PLC (NASDAQ:PSNY), with the removal of tariffs on US industrial goods among the US conditions for it to lower auto taxes being imposed on European carmakers.

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Once met, the US will effectively reduce its tariffs on European cars from 27.5 percent to the baseline 15 percent.

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is a Swedish company that also operates and sells in the US.

In recent news, it grew its retail sales volume by 38 percent in the second quarter of the year to 18,049 from 13,072 in the same period last year, putting its first half sales volume to 30,319, or a 51-percent jump from 20,047 in the same period last year.

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