Stocks go UP & they go DOWN.... The put options came in hard & heavy after we went above $8.15 (along with the OTHER technicals) suggesting that ~$8.25 price was THE (double) TOP (in the short term)!
NONE of that changes longer-term sentiment here. Where the ONLY real, practically tangible, & potential longer-term THREAT imv is gas prices. Folks aren't incentivized to GO GREEN when gas is cheap! And btw, NOT that gas is cheap right now, but the U.S. gov't released a crap ton of strategic reserves (probably to ENSURE folks can SHOP for the Holidays!) dropping gas prices from a National Average around $5.00 per gallon to around $3 or so. IMV gas prices DO THREATEN the short-term prospects of the industry
But unless Putin (& OPEC) stop messing around, folks should EXPECT gas prices to RISE again (post New Year) & with that this sector should heat UP again... ESPECIALLY if Polestar continues to outperform, as expected (according to their shipping numbers, etc.)... Q1 should be healthy & the stock price should therefore REBOUND...
GL
PS: This is NOT financial advice & ANY position in a stock should be FLUID!! In order to roll with the punches, protect capital & (as the pros would say) "live to fight another day". So I am NOT advocating ONE WAY or ANOTHER!! Everyone to do with their money as THEIR goals, fiscal needs, retirement future, etc., & investment needs dictate; mine is JUST an opinion. On the other hand a chartist or technical analyst will SIMPLY suggest the stock hit a near term peak, got overbought, was sold off (profit taking) & is now getting oversold before it CORRECTS again. Whichever side of the fence you live & breathe, the markets are dynamic & investors should be as well. GL2U
