QuantumScape (NYSE: QS), a maker of solid-state batteries for electric vehicles (EVs), initially attracted a stampede of bulls when it went public by merging with a special purpose acquisition company (SPAC) in November 2020. The combined company's stock opened at $24.80 and skyrocketed to its record high of $131.67 less than a month later.

But today, QuantumScape's stock trades at about $5. The bulls retreated as the company struggled to commercialize its products, new competitors entered the market, and rising interest rates highlighted its steep losses and compressed its valuations. Should investors buy, sell, or hold this volatile stock in this challenging market for speculative EV plays?

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Source Fool.com