Is QuantumScape Stock a Buy?
QuantumScape (NYSE: QS) has disappointed a lot of investors since its public debut. The developer of solid-state batteries went public by merging with a special purpose acquisition company (SPAC) in November 2020, and its stock started trading at $24.80 and skyrocketed to a record high of $131.67 less than a month later.
But today, QuantumScape's stock trades at about $6. It sank for three obvious reasons: It wasn't generating any revenue because it hadn't commercialized any of its products, it was racking up steep losses, and it kept struggling with delays as bigger competitors crept into its backyard. So should investors take the contrarian view and buy this beaten-down stock?
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Source Fool.com
