Why QuantumScape Rocketed 26% Higher in July

Shares of QuantumScape (NYSE: QS) soared 26% higher in July, according to data from S&P Global Market Intelligence, as the next-generation electric vehicle (EV) battery maker rallied along with the broader market.

The stock is still down 44% year to date and is more than 71% off its 52-week high, but investors enjoyed the respite from the continuously declining value of its shares.

QuantumScape is a pre-revenue company, meaning it doesn't have any sales yet, but its revolutionary technology that allows for safer and faster charging of electric car batteries has gained a lot of attention from the industry.

Source Fool.com