Why Shares of QuantumScape Are Tumbling Today
For the first three days of this week, investors were charged up about the prospects of solid-state battery company QuantumScape (NYSE: QS), and bid up its shares. That trend is powering down Thursday, however, as the market reacts to an analyst's pessimistic take on the stock.
As of 12:25 p.m. ET, shares of QuantumScape were down by 9.1%.
Downgrading QuantumScape to underperform from peer perform, analyst Rod Lache of Wolfe Research has become considerably bearish on the stock. Lache assigned a $2 price target on shares of QuantumScape, implying a downside of 73% from Wednesday's closing price.
Source Fool.com
