Why QuantumScape Stock Is Falling Today
QuantumScape (NYSE: QS) stock is falling in Thursday's trading. The company's share price was down 6.2% as of 1:45 p.m. ET, according to data from S&P Global Market Intelligence. For reference, the Nasdaq Composite index is down 1.6% in the daily session as of this writing.
QuantumScape published its third-quarter results after the market closed yesterday and actually delivered a loss that was smaller than the market anticipated. But investors are becoming more cautious about growth-dependent stocks today, and the battery specialist is participating in the broader valuation pullback trend.
QuantumScape's business is still in a pre-revenue state, but its loss in the third quarter was smaller than Wall Street had anticipated. The company posted a loss per share of $0.23 in the quarter, while the average analyst estimate had called for a per-share loss of $0.39.
Source Fool.com
