Electric vehicle battery technology company QuantumScape (NYSE: QS) is trading for a small fraction of its all-time high of more than $130.

To be fair, QuantumScape held a triple-digit share price for only a short amount of time in late 2020 and early 2021. It was not only one of the most-hyped SPAC deals of the 2020-21 speculative stock boom at a time when EV stocks were attracting lots of trading volume, but it also was swept up in the "meme stock" frenzy that occurred around the time.

So while it's completely accurate to say that QuantumScape is 96% below its high, I'm not saying that sort of share price was justified or will happen again anytime soon. After all, at one point QuantumScape had a market cap of about $50 billion with no revenue and years until it would possibly produce any.

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Source Fool.com