Polestar Faces Nasdaq Delisting Threat For Delayed 2023 Report

Polestar says its annual report has been delayed as it finalizes statements regarding accounting misstatements made in 2021 and 2022. The company claims it is committed to regaining compliance and satisfying all of Nasdaq's listing requirements. Polestar sold just 7,200 vehicles in the first quarter of 2024. Polestar has received a deficiency notice from the Nasdaq for failing to release its annual report promptly, meaning it’s not in compliance with stock exchange regulations.

” Read: Polestar 2 EV Lease Slashed To $299 With Down Payment Starting At $999 In late April, Polestar revealed it was delaying the publication of its fourth-quarter and full-year 2023 financial results for a second time and has not yet provided a date for when they will be published. The firm said the delay has been triggered in part by the need to finalize statements regarding accounting misstatements that were made in 2021 and 2022 and will be rectified in the 2023 report.

Source: News Formal (newsformal.com)

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