Why Plug Power, ChargePoint, and QuantumScape Stocks Fell Today
On a bad day for most stocks, shares of electric-vehicle-related ChargePoint Holdings (NYSE: CHPT) and QuantumScape (NYSE: QS), and hydrogen fuel cell maker Plug Power (NASDAQ: PLUG) are down between 6% and 8%. In afternoon trading on Dec. 6, all the major stock indexes are also down, with the S&P 500 off about 1.8% and the Nasdaq Composite down more than 2%.
There isn't any big news out from -- or about -- any of these three companies today that is the specific cause for any of their share-price declines. The most recent news is from ChargePoint, the EV charging station company, which reported third-quarter results on Dec. 1, with a 93% increase in revenue, but continues to report big losses.
QuantumScape is still a pre-revenue business, having gone public to raise the capital to bring its next-gen battery technology to commercialization. It reported in late October, and hasn't announced any new partnerships or updates on its progress since then.
Source Fool.com
