Why QuantumScape Shares Jumped Today
Shares of QuantumScape (NYSE: QS) jumped as much as 6% Monday morning on some news from a partner in its quest to commercialize solid-state battery technology for electric vehicles (EVs). Investors, however, may have thought what seemed like good news could ultimately be a negative for QuantumScape. As of 1:30 p.m. ET, the stock had lost some of its gains and was trading 1.5% higher for the day.
Volkswagen has been a partner with QuantumScape prior to the battery technology company trading publicly. The global automaker is an early investor, a joint venture (JV) partner, and has board representation. The auto giant has now partnered with another company in the EV battery sector, too, Barron's reported today.
Source Fool.com
