Polestar Automotive Holding UK Plc shares fall 3.73% intraday as the company reports a narrowing quarterly loss and focuses on cost-saving measures.

Polestar Automotive Holding Uk Plc dropped 3.73% in intraday trading. The company reported a narrowing of its quarterly loss due to cost-saving measures and improved margins, with revenue growth of 84% and a positive gross margin of 7%. However, the stock's decline may be attributed to the company's strategic shift towards focusing on the European market, which accounts for 75% of its sales, and the broader slowdown in EV demand. Additionally, the company has been grappling with a cash crunch and mounting debt, which may have contributed to the negative sentiment surrounding the stock.