Wall Street Is Giving Up on QuantumScape Stock: Should You Sell?
The electric vehicle industry is a hotbed of innovation, with companies making massive investments to take advantage of extremely strong consumer demand for EVs. With the size of the market already exceeding $1 trillion and expected to grow at a healthy pace through 2030 and beyond, the stakes are huge, and the payoffs for groundbreaking technology could be enormous.
QuantumScape (NYSE: QS) is one company that has garnered a lot of attention in the EV space. The company is specializing in EV battery technology, with the hope that it can build more efficient, higher-capacity batteries that will represent a major advance in the way that automakers design their vehicles. Yet in the current market environment, investors are less patient with companies that are still a long way out from making money, and shareholders in QuantumScape might have to wait quite a while before the company will even start seeing consistent revenue from its business, let alone profits.
That has one major player on Wall Street calling it quits, and QuantumScape stock fell more than 7% early Wednesday as a result. That leaves an obvious question: Should you give up on QuantumScape too?
Source Fool.com
