Why QuantumScape Stock Has Been Dropping
For the second day in a row, shares of solid-state battery technology company QuantumScape (NYSE: QS) dropped by double digits. As of 1:45 p.m. EDT Wednesday, QuantumScape shares were down 12.4% on the day, after a 10.6% decline Tuesday.
The drop comes as many stocks in the electric vehicle sector have been on the decline, as the overall market shifts to more industrial and value-oriented names. But QuantumScape shares began the recent dip after the company announced it intends to raise more capital through a public offering of common stock.
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Source Fool.com