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QuantumScape Stock Plunged 29% in the First Half of 2024, But Is Up 27% This Year: What's Going On?

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QuantumScape Stock Plunged 29% in the First Half of 2024, But Is Up 27% This Year: What's Going On?: https://g.foolcdn.com/editorial/images/783689/gettyimages-1358049785.jpg

Don't let that headline confuse you: QuantumScape (NYSE: QS) stock's wild ride this year is a story worth diving into.

Shares of the electric vehicle (EV) battery start-up kicked off 2024 on a somber note and lost 29.2% of their value in the first half of 2024, according to data provided by S&P Global Market Intelligence. A dramatic rebound in July, however, means QuantumScape stock is now up nearly 27% year to date, as of this writing.

QuantumScape is building solid-state batteries that are lighter, safer, more energy-dense, and can recharge quicker than the traditional lithium-ion batteries that power most EVs on the roads today.

Source Fool.com

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