QuantumScape (NYSE: QS) stock has disappointed a lot of investors since its public debut on Nov. 27, 2020. The developer of solid-state batteries went public by merging with a special purpose acquisition company (SPAC), and its stock started trading at $24.80 before skyrocketing more than fivefold to its all-time high of $131.67 less than a month later.

But today, QuantumScape trades at less than $10. The bulls lost their patience for three reasons: The company wasn't generating any revenue yet, it was still deeply unprofitable, and the electric vehicle (EV) market was cooling off. Rising interest rates also broadly drove investors away from speculative pre-revenue companies.

Image source: Getty Images.

Continue reading

Source Fool.com