Why QuantumScape Stock Soared Last Month
Electric vehicle (EV) solid-state battery company QuantumScape (NYSE: QS) doesn't have a product yet and is still probably multiple years away from potential commercialization. But the technology it's working on has so much potential that its progress is being watched closely. That makes the stock highly volatile, as it proved to the upside last month. For the full month of March, QuantumScape shares spiked 23.9%, according to data from S&P Global Market Intelligence.
QuantumScape has some well-known investors, including both Volkswagen and Bill Gates through his clean-energy fund Breakthrough Energy. Investors knew the German automaker could provide a market in waiting for when QuantumScape's batteries are available commercially. But investors may have been a bit surprised last month, when Barron's cited a German news outlet reporting that a new fully electric Porsche 911 sports car could be powered by QuantumScape's solid-state batteries.
Source Fool.com
