Why QuantumScape Stock Moved Higher Today
QuantumScape (NYSE: QS) shares jumped Thursday morning after its latest investor presentation yesterday. The stock moved up by almost 8% and remained higher by 4.9% at 12:05 p.m. ET. Today's move has brought the stock's gain to more than 20% over the last month.
Today's gain was also likely helped by the move of shares in another early-stage EV battery maker. Freyr Battery shares surged higher this morning after that company announced progress on its technology and got a boost from a widely followed EV sector analyst. Freyr shares were higher by about 20% after that company's update followed by positive comments from Morgan Stanley analyst Adam Jonas.
Both battery makers are making progress toward commercialization of their products. But each is working toward a somewhat different goal. QuantumScape is developing solid-state battery technology that it expects will be widely adopted once commercialized.
Source Fool.com
