Is QuantumScape a Millionaire-Maker Stock?

After a successful SPAC acquisition late last year, QuantumScape (NYSE: QS) stock skyrocketed almost four-fold from its first day of trading. Only to come down to the middle atmosphere in recent days. To say there has been a lot of speculation about this company's stock would be an understatement: Since the company released its battery performance data on Dec. 8, 2020 there have been headlines by would-be-competitors and would-be-customers, but little to change the company's story in a way that would justify such a wild ride. And millionaire-making stocks are all about the long-term outlook -- so, it's worth taking a closer look at the company's story.

QuantumScape is making EVs go longer and cost less. Image source: Getty Images.

The basic thesis, or reason to invest in QuantumScape, is that it has developed a high-performance, solid-state battery that will let electric cars charge faster, go a lot farther, and become cheaper than the best electric vehicles(EVs) today, and even most gas-powered cars. Although the company has a close relationship with Volkswagen -- the world's largest car manufacturer -- it can sell its products to any other car makers. So, as the world speeds toward electric mobility, QuantumScape should be able to sell tons of its state-of-the-art batteries and create a lot of value for its shareholders.

Source Fool.com