Why QuantumScape Stock Suddenly Jumped Monday Afternoon

QuantumScape (NYSE: QS) stock rocketed higher by as much as 12.8% Monday afternoon before moderating to close the session up by 6.8%. The sudden jump in the stock price can be attributed to an article published by German business monthly Manager Magazin that fueled speculation about a potential partnership between QuantumScape and a luxury car maker.

QuantumScape is building multilayer solid-state lithium metal battery cells that are reportedly better than the lithium-ion batteries that currently power most electric vehicles (EVs) on several counts, including energy density, efficiency, charging speed, cost, and safety.

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Source Fool.com