Why QuantumScape Stock Crashed This Week
Investors in QuantumScape (NYSE: QS) must be having a really hard time, given the precipitous decline in the electric-vehicle (EV) battery stock. After a steep decline in December, QuantumScape stock has shed another 27% so far in January, with nearly all of those losses piling up this week alone. As of noon today, shares have plunged 21.9% through the week, according to data provided by S&P Global Market Intelligence.
There's one big risk when you invest in start-up growth stocks: The market's sentiment can hugely influence which direction the stock goes, regardless of where the company's fundamentals stand. That's exactly what's happening with QuantumScape shares right now.
The company has made only one announcement so far in January. Late last week, it said it had a multiyear agreement with Fluence Energy (NASDAQ: FLNC) to incorporate QuantumScape's technology into Fluence's stationary energy-storage products.
Source Fool.com
