Polestar in Reverse Following U.S. Sales Ban
Equilend Utilization in Polestar (PSNY) approaches saturation, leaving short sellers paying a steep premium to stay in the trade.
In the month leading up to November 3rd, Equilend Borrow Quantity for Polestar rose 39% to 3.5 million shares, pushing Equilend Utilization from 79% to around 94%, close to saturation. With little lendable supply remaining, Equilend Cost to Borrow also rose dramatically, reaching more than 9,700 bps as of November 3rd, from 1,700 bps in early September before Equilend’s real-time data tracked a further 48% intra-day rise on November 4th.
Polestar has come under pressure since the U.S. Commerce Department barred the automaker from selling new Polestar cars in America from the 2027 model year because of its Chinese-linked connected-vehicle technology. On September 3rd, the Geely-backed EV maker posted weaker second-quarter results, cut its 2026 volume outlook and said it would not appeal the sales ban, sending shares down 28% in their worst one-day decline ever.
With Polestar facing a bumpy road ahead, make sure to subscribe to Equilend’s real-time data to track every shift in short interest and see how short sellers are positioning.
