Why QuantumScape Stock Electrified Investors Today
The market sure got a charge from next-generation electric vehicle (EV) battery developer QuantumScape (NYSE: QS) on Monday. Investors sent the company's share price more than 3% higher on the day, easily outrunning the slight (0.1%) gain of the S 500 index. Strongly encouraging news from the most prominent EV maker had a knock-on effect on QuantumScape.
It probably goes without saying that said leading EV manufacturer is almighty (NASDAQ: TSLA). Over the weekend, Tesla published its latest production and delivery update, and it was a doozy. The company not only notched a new all-time quarterly record for deliveries, it trumped analyst expectations. Meanwhile, its production figure put it on a pace to hit its goal of roughly 1.8 million vehicles this year.
Where Tesla goes, the rest of the EV pack tends to follow, hence the bullishness around QuantumScape stock in the wake of that update.
Source Fool.com
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