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Why Shares of QuantumScape Are Powering Down Today

TheMotleyFool

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Why Shares of QuantumScape Are Powering Down Today: https://g.foolcdn.com/editorial/images/702930/driver-preparing-to-charger-an-electric-vehicle.jpg

While EV-minded investors were accelerating into shares of QuantumScape (NYSE: QS) on Tuesday, they're shifting into reverse today. As of 12:02 p.m. ET, shares of QuantumScape are down 8.1%.

In addition to the overall dour sentiment pervading the markets today, investors are choosing to unplug from QuantumScape's stock after learning of an analyst's recent outlook on the company and his price target on its shares.

Starting coverage on QuantumScape, Jordan Levy, an analyst at Truist, assigned the stock a $10 price target with a hold rating. Based on the stock's closing price of $9.23 yesterday, Levy's price target implies upside of about 8%.

Source Fool.com

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