Why QuantumScape Stock Is Sinking Today
QuantumScape (NYSE: QS) stock is being hit with big sell-offs Friday in response to bearish analyst coverage. The company's share price was down 6.3% as of 3 p.m. ET. despite the S 500 being up 0.4% and the Nasdaq Composite being up 0.3% at the same point in the day. The stock had been down as much as 11.9% earlier in trading.
Shortly before the market closed yesterday, Goldman Sachs published new coverage on QuantumScape and reiterated a sell rating on the stock. Despite some recent pullbacks, the company's share price is still up 127% this year.
Image source: Getty Images.
Source Fool.com
