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Why QuantumScape Shares Soared Higher Today

TheMotleyFool

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QuantumScape (NYSE: QS) shares popped this morning. Shares of the early-stage electric vehicle (EV) battery maker soared by more than 19% in early trading. The stock remained higher by 14.6% at 11 a.m. ET.

The stock jump came from an operational update -- though not one from QuantumScape.

Aggressive investors in EV-related sector stocks are reacting to an update from QuantumScape peer and competitor Freyr Battery this morning. The Norway-based company reported a milestone in its progress to develop a commercially viable EV battery that offers several advantages versus the current lithium-ion batteries in use.

Source Fool.com

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