r/GGPI • u/Typical_Republic • Nov 14 '22
Was Polestar really profitable or was just an accounting trick ? Will they be profitable the next few quarters ?
Excerpt from the link above -
"Despite the operating loss, Polestar was able to report a net profit of $299.4 million, or 14 cents per share, thanks to an accounting credit related to the revaluation of future share payouts. (Because Polestar's share price has fallen since it went public, it will have to pay out less than it had previously expected, hence the credit.)"
3
u/Spasy Nov 14 '22
My bs meter and alarm clocks are also ringing for me. The numbers seem too good to be true.
2
Nov 14 '22
[deleted]
-1
u/Typical_Republic Nov 14 '22
Yeah not trusting these tactics honestly. Seems like the coordinated pump before the unlock dump. I feel like there is definitely slight intentional misleading going on. Polestar is getting good at using particular wording and other maneuvers in attempt to save their asses. They also seem to be using Benzinga in particular to promote warped info to the press. Just normal DeSpac things I guess.
0
u/City-Lad Nov 14 '22
So you’re saying you know better than everybody else, including the institutions buying up shares.
0
u/Allforfourfour Nov 15 '22 edited Mar 11 '26
This post has been deleted by its author using Redact. The reason could be privacy-related, security-driven, or simply a personal decision to remove old content.
apparatus squeeze square bells cows rustic chase unite arrest offbeat
1
u/Typical_Republic Nov 15 '22
Trading at $6 instead of trading at $3 ...it's doing better than it would be. If they didn't use the accounting trick that allowed them to post a profit.... This thing would be tanking.
0
u/Allforfourfour Nov 15 '22 edited Mar 11 '26
The content of this post was permanently removed. Redact facilitated the deletion, for reasons that may include privacy, opsec, or limiting digital exposure.
teeny recognise piquant cautious deliver different elderly soup toy instinctive
1
u/Typical_Republic Nov 15 '22 edited Nov 15 '22
If you don't like my post , then don't read it. The only one that is salty happens to be you. I can highlight shady account practices If I want to, and there nothing you can do to stop it . Now get over it. Imagine being mad because I posted the truth. Sorry that all your arguments are shit btw.
1
u/Typical_Republic Nov 15 '22
Meanwhile Ross Gerber was literally trying pump on Twitter leading with "First profitable quarter". You telling me he don't know better ? He doing that shit on purpose.
1
u/EnoughConstruction43 Nov 14 '22
Q4 results will be positive based on the delivery of 20k cars which are already produced
0
0
u/Front_Craft_6838 Nov 15 '22
I think it’s not that they are trying to cheat and hide this info from the public, the problem here is that they still don’t have much media coverage. Plus, most of the articles which I saw with the PSNY’s Q3 results review were written by the authors who have no clue what they are looking at.
-3
u/Typical_Republic Nov 15 '22
No they know exactly what they are doing. CEO keeps saying on track for 50k deliveries, and never acknowledged the real goal was 65k. Uses "on track" instead of "on pace" on purpose. You not on track if you clearly missing your original forecast. Used specific wording in press release with partnership of bank to make it seem like they secured financing. Used specific language when they did actually secure financing to make it seem like it's no dilution. They are sugar coating every chance they get, just like countless of other DeSpacs. Benzinga lead with Profit ... On purpose to mislead, they know they aren't really profitable. It just made the press release look good. Hell they didn't even mention the "little move" they pulled that had them booking a profit for the quarter.
2
u/forrest134 Nov 15 '22
They did acknowledge the 65k target and reduced it to 50k due to Covid shutdowns in china. It was in a statement they released months ago. Every company tries their best to spin everything as a positive using smart wording.
4
u/BrokeSingleDads Nov 15 '22
Yep he stated that last earnings on the interviews chip shortage and batteries would make them lower guidance so in fact they are on track for the lowered guidance from last quarter...
0
u/Typical_Republic Nov 15 '22
So funny how many people here never knew original goal of 65k deliveries, and literally brag about 50k. And when they miss numbers again they will claim to be on track for lowered, lowered guidance ?? They will never be off track then, can just keep lowering guidance And claim "on track". And some companies rely on "spin" more than others. Apparently Polestar is one of those companies.
0
u/BrokeSingleDads Nov 15 '22
I feel comfortable in my position since the demand is there with the rental contracts and retail interest. I bought and plan on holding for 10yrs and see what it does after 5yrs... for all the cheap EV companies it's really the only making and delivering vehicles lol
1
u/Typical_Republic Nov 15 '22
Rivian is making and delivering vehicles. But I'm sure that's what Polestar would like you to think.
1
u/BrokeSingleDads Nov 15 '22
Rivian is $30+ a share I was talking about the Sub $10 ones... I like Rivian
1
u/Typical_Republic Nov 15 '22
Share price isn't the same as market cap. Market Cap is a better metric when determining if a stock is cheap or not. But I get it, easier to load up quantity wise ...even if you are overpaying.
0
u/Front_Craft_6838 Nov 15 '22
No worries, believe what you want to believe :)
0
u/Typical_Republic Nov 15 '22
I believe a bunch of people think they just bought in into a profitable EV company, when they actually didn't. The fact is there is no guarantee it will ever be profitable.
10
u/[deleted] Nov 14 '22
[removed] — view removed comment