Why QuantumScape Plunged Today
Shares of solid-state electric battery-maker QuantumScape (NYSE: QS) were in freefall today, down 14% as of 3:21 p.m EST.
The company reported third-quarter earnings at the end of October, but today's move was likely caused by a big analyst downgrade, sending the stock even lower than many other EV stocks, which also generally had a bad day today.
This morning, Morgan Stanley analyst Adam Jonas issued a note on QuantumScape, downgrading his rating to the equivalent of a "sell," while lowering his price target on the stock from $12 to just $4.
Source Fool.com
