Polestar stock (PSNY) jumps on BBVA stake filing as Geely-backed funding stays in focus
Polestar shares closed up 9.5% at $21.37 on Dec. 31 after BBVA disclosed an 8.4% passive stake and Geely-linked holders amended financing terms. BBVA’s filing detailed a put option with Geely Sweden Automotive Investment AB. A $600 million loan facility from Geely was also disclosed. Polestar’s Q4 retail sales update is due Jan. 9.