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Shares of Quantumscape (NYSE: QS) had a down day Thursday even as the broader market rallied.
While there was no company-specific news about the solid-state battery maker, traders apparently reacted to disappointing earnings reports from Rivian (NASDAQ: RIVN) and Lucid (NASDAQ: LCID) . Quantumscape shares closed Thursday down by 3.6% after having been off by as much as 5% earlier in the session. Meanwhile, shares of both of those unprofitable EV start-ups fell by double-digit percentages.