Why QuantumScape, ChargePoint, and GM Stocks Jumped Today
Shares of stocks in the automotive sector were rising today, likely in response to the broader market's gains. The S&P 500 was up by 2.7% and the Nasdaq Composite had gained 2.9% by midafternoon.
The positive market sentiment likely helped raise the share prices of the electric vehicle (EV) battery company QuantumScape (NYSE: QS) by 5.2%, pushed up the EV charging company ChargePoint (NYSE: CHPT) up by 8.8%, and helped General Motors (NYSE: GM) pop 8.2% as of 2:25 p.m. ET.
Additionally, strong vehicle deliveries in GM's third quarter were helping to contribute to the company's share price gains today. And solid vehicle deliveries from Rivian may have helped give QuantumScape and ChargePoint an additional boost.
Source Fool.com
