QS - Should You Buy QuantumScape Stock While It's Below $10?
2024-05-23 04:50:00 ET
QuantumScape (NYSE: QS) was one of the market's hottest investments during the meme stock rally in late 2020 and 2021. The developer of solid-state batteries went public by merging with a special purpose acquisition company (SPAC) in November 2020, and its stock opened at $24.80 before soaring to a record high of $131.67 less than a month later.
At its peak, QuantumScape's market cap reached $48 billion. However, the company hadn't commercialized any of its batteries and wasn't generating any meaningful revenue yet. It was also losing hundreds of millions of dollars per year.
Image source: Getty Images.
For further details see:
Should You Buy QuantumScape Stock While It's Below $10?