Why QuantumScape Stock Plunged to 52-Week Lows This Week
QuantumScape (NYSE: QS) stock may have rebounded Friday, but that's only after the stock plunged to 52-week lows earlier in the week. The electric vehicle (EV) battery stock was still down 13% through the week as of 2 p.m. ET Friday, according to data provided by S&P Global Market Intelligence. QuantumScape stock is now a whopping 93% off its all-time highs hit in December 2020, just days after the company went public.
The market sell-off had little to do with QuantumScape stock's fall this week. Instead, a C-suite exit sent shockwaves among investors, and many are wondering if Friday's rebound was a reflexive bounce for the stock.
QuantumScape's chief manufacturing officer, Celina Mikolajczak, has left the company.
Source Fool.com
