Polestar which is a swedish electrical car firm that has ACTUAL REVENUE from car gross sales worldwide goes public! They’ve delivered effectively over 20,000 automobiles to this point, and they’re projected to have a income of $1.6B this yr.
Right here you possibly can see some gross sales information from Europe, not included are the gross sales in China and North America:
The desk exhibits the numbers in million SEK, Polestar did $636 million USD in income in 2020 which is slated to develop by 151% in 2021 to $1.6B: https://imgur.com/PpSpkrX
That’s BEFORE the discharge of the Polestar 3, their new SUV which will probably be made within the USA in Ridgeville, NC, in addition to their 4th mannequin which is the Polestar Principle. It’s a full-size electrical sedan similar to an S-Class or the Lucid Air in dimension.
Gross sales Channel:
Polestar has extra site visitors than Rivian and Lucid Motors mixed: https://imgur.com/NUYjdQS The Supply of this information is Similarweb.com. Given the truth that all 3 use their web site as the principle gross sales channel this can be a fairly vital discovering. Polestar additionally has extra Google searches than Rivian or Lucid Motors: Google Knowledge
Why is GGP*I buying and selling at $10.02 whether it is as nice as you declare?
GGP*I is a SP*C, which suggests when it went public it was only a trust-account full of cash. These sorts of IPOs are purchased by arbitrage funds, that obtain a share of a warrant for every unit they purchase. Earlier than GGP*I introduced to merge with Polestar practically 100% of its float was owned by these arb funds. They promote the shares at $10.xx as a result of their intention is to make just a few % return and hop into the subsequent IPO. So within the final couple days these funds unloaded about 65M shares on patrons who need to maintain due to Polestar. You’ll be able to simply think about how such a giant provide prepared to be bought at $10.xx will maintain the worth down. I’m estimating we’re about 15M shares or 5-6 buying and selling days away from these funds having bought out. And since most patrons till then have a price foundation at $10.xx they will not promote for just a few % in revenue.
I’m fairly positive you guys know that LCID is buying and selling at $44B and Rivian is trying to IPO at $80B this yr. Collectively they’ve delivered 0 automobiles to their prospects, Polestar goes public at $20B at $10 per share. You are able to do your individual math however I’m fairly assured a 50% upside or $30B marketcap are practical for this firm.
I used to be an investor in LCID and now I’m in Polestar. Each firms provide exceptionally nice returns IMO however at $10.02 and 20B market-cap Polestar appears to be rather a lot cheaper in the intervening time. I’m not saying Polestar is best than Lucid, simply that it could be a greater funding on the present value.