Why QuantumScape Shares Dropped Again Thursday
The stock of aspiring electric-vehicle battery supplier QuantumScape (NYSE: QS) has seen an increase in trading volume this week, as shares have fallen more than 30%. The growing investor interest, and decline in price, have come after the company said it would raise additional capital through a stock sale.
Today, shares in QuantumScape dropped another 13% before paring those losses. At 10:45 a.m. EDT, shares were down about 7.8% after the company announced pricing on the share offering.
The company priced the offering at $40 per share, aiming to raise $416 million in gross proceeds. That price represented a 16% discount to Wednesday's closing share price, and it's more than 35% below where the stock closed on the day the company announced the offering.
Source Fool.com
