QuantumScape (NYSE: QS) shares had a good month in February. But while the stock rose 12.5% for the month, according to data provided by S&P Global Market Intelligence, it had spiked nearly 40% at its peak in February.

That surge higher came as investors piled into shares ahead of the quarterly update from the electric vehicle (EV) battery technology company. 

While the company updated investors on progress toward commercializing its solid-state batteries for the EV sector, it also acknowledged some challenges that pushed some investors out of the stock. 

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Source Fool.com