Why QuantumScape Stock Is Rallying This Week

Shares of solid-state battery technology company QuantumScape (NYSE: QS) have been soaring this week, extending the volatility the stock has seen since the company began trading publicly. The shares were holding near their all-time lows when investors got news that made them excited to own QuantumScape once again. Entering the final trading day of the week, QuantumScape stock was near its weekly high, up about 24%. 

The stock gains can be attributed to both company-specific news as well as more macro trends this week. After a sell-off to start the week, both the S&P 500 and the Nasdaq Composite regained those losses as the week progressed. And news that came from a QuantumScape Securities and Exchange Commission filing last Friday has helped shares soundly outperform the markets for the week. The company said it has signed an agreement with a second automotive manufacturer -- and it's one of the world's top ten by revenue. 

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Source Fool.com