Why QuantumScape Stock Skyrocketed 35% Today
Shares of QuantumScape (NYSE: QS) finished the day up 35%. The jump comes as the S 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 0.8% and 1%, respectively.
QuantumScape stock is continuing its run-up following a major announcement earlier this week. The company announced on Tuesday that it had achieved a "major milestone" in developing its solid-state lithium battery. QuantumScape says it has integrated its Cobra separator process -- a key element of its next-generation battery manufacturing -- into its baseline production line.
The company says that this will enable "faster, more energy-efficient production with a smaller equipment footprint compared to earlier processes," claiming it is a "25x improvement" over its prior process.
Source Fool.com
