QS - QuantumScape's Top Investor Is Partnering With Other Battery Makers: Should You Be Worried?
2024-01-28 09:53:00 ET
QuantumScape (NYSE: QS) was once a red-hot stock. The maker of solid-state batteries went public by merging with a special-purpose acquisition company (SPAC) on Nov. 27, 2020, and its stock opened at $24.80 before soaring to its all-time high of $131.67 less than a month later. But today, QuantumScape trades at about $7.
The stock ran out of juice for three reasons: It wasn't generating any revenue yet, it was racking up steep losses, and the electric-vehicle market was cooling off. Rising interest rates also drove investors away from speculative growth stocks.
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QuantumScape's Top Investor Is Partnering With Other Battery Makers: Should You Be Worried?