Why QuantumScape Shares Jumped Today
Shares of electric vehicle (EV) battery company QuantumScape (NYSE: QS) jumped as much as 5% Tuesday morning. QuantumScape stock held onto a gain of 2.6% as of 11:39 a.m. ET as many EV stocks gained on a day when further progress was announced in expanding charging infrastructure throughout the United States.
QuantumScape shares have been pummeled so far in 2022 as investors steered away from higher-risk stocks. The battery company is working to validate a solid-state battery that would potentially be used as a preferred battery technology to the current lithium-ion batteries. The company is counting on not just its technology proving out but also the widespread adoption of EVs in general. Today, the U.S. Department of Transportation (DOT) announced some important progress on that front.
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Source Fool.com
