Xiaojie Shen, Director at Polestar Automotive Holding UK PLC (PSNY), bought 2,436 shares at $17.31 ($42K) on 2026-06-29, disclosed to the SEC on 2026-07-01.
Director Xiaojie Shen purchased 2,436 shares at $17.31, marking the largest insider purchase in the company's history. This move comes as the stock has dropped 7.1% over the last five days following a U.S. government ban on future sales.
The stock is currently trading at $18.70, down 7.1% over the past five days and 20.02% below its 52-week high of $23.38.
The U.S. Department of Commerce denied authorization to sell new models starting with the 2027 model year on June 29, 2026, and this represents the largest insider purchase in the company's history.
The U.S. Department of Commerce's decision to block new model sales starting with the 2027 model year poses a significant revenue risk, potentially costing the company $250 million in lost sales.
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