Why QuantumScape Stock Surged Higher Friday
Shares of QuantumScape (NYSE: QS) jumped as much as 14% today with the stock holding onto a gain of 10.6% as of 3:35 p.m. ET. New Securities and Exchange Commission (SEC) filings might be what prompted the surge higher.
Last week, the solid-state battery technology company named a new chief operating officer (COO). Luca Fasoli is experienced in advanced memory and storage technologies from his time spent at technology companies Western Digital and Sandisk. Today's move might be due to the SEC filing that shows Fasoli acquired more than 1.3 million QuantumScape shares in a transaction dated May 13.
Investors might have jumped the gun, though, if that's why they also jumped into QuantumScape stock today.
Source Fool.com
