Nov. 15 at 2:37 AM
$PSNY This is just plain stupid.
$935 million in cash and equivalents.
$748 million in revenue over the last 3 months.
$2.1 billion in revenue for 9 months this year and the company has a market cap of less than
$1.2 billion. The way this stock has sold off this week one would assume that they were filing bankruptcy. While a reverse split isn't good and a 30 for 1 reverse split seems a bit severe. This company is still outselling Rivian and Lucid but those companies own their manufacturing plants. On the flip side Rivian and Lucid are losing considerably more money every quarter.