There was plenty of euphoric excitement over all things electric vehicle (EV) a few years ago. Every investor wanted to find the next . One way to play that was to invest in a company that would support the overall growth of EVs, rather than trying to pick the next successful EV maker.

That's why shares of solid-state EV battery company QuantumScape (NYSE: QS) soared in late 2020 after the company went public. But much of that excitement was premature as the adoption of EVs and the development of new technologies would take years to play out. That gave patient investors an advantage.

Three years later, QuantumScape is closer to commercializing its product and the stock has plunged 90%. So now that the stock has dropped, it's worth digging into whether it is the time to buy QuantumScape.

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Source Fool.com