Just as Swedish electric-vehicle maker Polestar prepares to go public, the financial market is looking uncertain.
When Polestar revealed plans last fall to go public, interest in EV stocks was hot as investors hoped to get in early on the next Tesla.
The exuberance sent some company valuations into overdrive, creating what some see as a stock market bubble. Luxury EV maker Lucid Group commanded a $42 billion valuation after it went public in July, and in November, electric utility-vehicle maker Rivian Automotive's initial public offering had a $66.5 billion valuation.