Why QuantumScape Stock Is Trading Higher Today

Shares of QuantumScape (NYSE: QS) were trading sharply higher Wednesday after the start-up provided an update on its research-and-development efforts and said that it will soon have enough cash to get its innovative batteries into production. 

As of 2:15 p.m. EST, QuantumScape's shares were up about 23.4% from Tuesday's closing price.

QuantumScape reported its fourth-quarter and full-year results after the market closed on Tuesday. Most of the numbers were about as expected, given that the company doesn't yet have any meaningful revenue: On an operating basis, it lost $30.2 million in the quarter.

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Source Fool.com