QuantumScape Stock Is Surging on Big News Today -- Is It a Buy for 2024?
QuantumScape (NYSE: QS) stock roared higher in Thursday morning's trading. The battery technology specialist's share price was up 25.3% as of 10:50 a.m. ET, according to data from S&P Global Market Intelligence.
's PowerCo subsidiary announced that it had completed a test of QuantumScape's solid-state lithium battery for electric vehicles (EVs), and the results were encouraging. The test found that the technology could be used to power up to 500,000 kilometers of travel in an EV with barely any loss of charge capacity and driving range.
Despite its recent rally, QuantumScape stock is still down roughly 94% from its peak. The results from the PowerCo test suggest that the battery specialist's tech could be included in Volkswagen's EVs at some point down the line. If and when that occurs, it could trigger a huge rebound for the stock.
Source Fool.com
Volkswagen AG ST Stock
With 7 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 145 € there is a slightly positive potential of 9.35% for Volkswagen AG ST compared to the current price of 132.6 €.
