Why QuantumScape Shares Jumped This Week
Shares QuantumScape (NYSE: QS), a maker of solid-state batteries for electric vehicles (EVs), are down more than 55% so far this year, but have staged a bit of a rebound this week. As of Friday morning trading, the stock had jumped more than 14% this week, according to data provided by S&P Global Market Intelligence.
The stock still hovers near its all-time low, however, and existing shareholders don't have any meaningful news from the business to attribute to this week's move. The jump comes as the number of shares sold short on QuantumScape has been dramatically increasing. As of mid-June, that number had jumped by more than 50% this year, with about 12.5% of total outstanding shares sold short.
Source Fool.com
