The drop comes as many stocks in the electric vehicle sector have been on the decline, as the overall market shifts to more industrial and value-oriented names. But QuantumScape shares began the recent dip after the company announced it intends to raise more capital through a public offering of common stock.
Full Answer
Is QuantumScape stock still down 65% from its highs?
The stock also remains down by about 65% from its November 2021 highs. Now, there have actually been some positive stock-specific developments for QuantumScape in recent weeks.
Will QuantumScape be dead money in a recession?
As the market has dropped, business leaders including JPMorgan Chase's Jamie Dimon and Tesla's Elon Musk have warned of a potentially severe economic downturn or recession to come. If that's the case, investors are probably thinking that money invested in a speculative stock like QuantumScape will be dead money for some time to come.
Is QuantumScape making progress on solid-state battery technology?
Developing new, solid-state battery technology for the electric-vehicle industry isn't easy, but QuantumScape (QS 2. 55%) continues to make progress. The company updated investors with its first-quarter results in the last week of April. While it continued to show steady progress, QuantumScape stock extended its April slide throughout May as well.
What is the longer-term outlook for QuantumScape?
So what’s the longer-term outlook like for QuantumScape? The company claims that its batteries could increase the range of EVs by as much as 50%, reduce charging times to under 15 minutes, and also make EVs safer. If QuantumScape delivers on these promises, it could be set to disrupt a very large and highly lucrative market.
Is QuantumScape stock a good buy?
QuantumScape stock is very much at a point where early investors can benefit from the company's future growth. Of course, that assumes it can scale up as projected. If so, analyst projections show a 50% or greater increase in its stock price over the next year.
Will QuantumScape stock recover?
I don't see 2022 as the year when QuantumScape reverses the pessimistic view of its stock....About QS.SymbolLast Price% ChgQSPost11.76 11.76-3.92% 0.00%May 17, 2022
Why did QuantumScape stock jump?
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.
Does QuantumScape have good future?
Research firm Wintergreen Research predicts that solid-state batteries will take multiple industries by storm, which bodes incredibly well for frontrunners such as QuantumScape (NYSE:QS) stock. The research report expects the solid-state battery market to grow at a whopping 147.8% from 2021 to 2028.
Did Bill Gates invest in QuantumScape?
QantumScape was founded in 2010 by Singh and backed early by Microsoft founder Bill Gates and auto giant Volkswagen. Both continue to be investors in QuantumScape.
Is QuantumScape a buy 2022?
In the first quarter, QuantumScape's 10-layer cells were tested successfully by one of its automotive customers. QuantumScape aims to deliver its initial sample cells with dozens of layers to at least one customer in 2022. The company's progress is one of the top reasons to buy its stock.
What is the future of QuantumScape?
QuantumScape has set developmental milestones for the commercial launch of batteries in 2024. The company recently announced that it had met all its internal milestones for 2021. This includes testing of a 10-layer battery cell under predefined test conditions.
Why is QuantumScape up?
QuantumScape (NYSE:QS) stock rallied nearly 7% yesterday and is up another 3% this morning. The gains came after a report asserted that the electric vehicle battery maker was teaming up with Porsche.
Which company is producing the forever battery?
QuantumScapeSolid-state batteries are the “forever battery” technology that QuantumScape is developing. QuantumScape is basically pioneering a new class of solid-state batteries to make the world infinitely more productive.
Who are QuantumScape competitors?
Top Competitors of QuantumScapeA123 Systems , Inc. 3,000. $300 Million.EaglePicher Incorporated. 4,200. $300 Million.Valence Technology Inc. 375. $44 Million. ... Yok Energy.Saft Ltd. 4,140. $826 Million.EnerDel , Inc. 175. $37 Million.EnerSys SA. 9,400. $2 Billion.SolidEnergy Systems Corp. $6 Million.
Is QuantumScape a Buy Sell or Hold?
QuantumScape has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 6 hold ratings, and no sell ratings.
What battery company is Bill Gates backing?
QuantumScape, a Bill Gates-backed startup working on solid-state lithium metal batteries for electric vehicles, recently hiked the salary of its CEO, Jagdeep Singh, offering him a multi-billion dollar pay package.
What happened
For the second day in a row, shares of solid-state battery technology company QuantumScape ( QS -3.71% ) dropped by double digits. As of 1:45 p.m. EDT Wednesday, QuantumScape shares were down 12.4% on the day, after a 10.6% decline Tuesday.
So what
The drop comes as many stocks in the electric vehicle sector have been on the decline, as the overall market shifts to more industrial and value-oriented names. But QuantumScape shares began the recent dip after the company announced it intends to raise more capital through a public offering of common stock.
Now what
QuantumScape's plans for solid-state battery technology could revolutionize the EV sector. The company believes it has found a ceramic material that can be used as a solid-state separator in a battery cell to help overcome slow charging times and performance limitations with current lithium-ion batteries.
NYSE: QS
The company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. It has plans to scale up the technology to have an eight- to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.
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The competitive set in solid-state batteries just changed, in an important way
John Rosevear is the senior auto specialist for Fool.com. John has been writing about the auto business and investing for over 20 years, and for The Motley Fool since 2007. Follow @john__rosevear
What happened
Shares of battery start-up QuantumScape ( NYSE:QS) opened sharply lower on Thursday, after Nikkei Asia reported that auto giant Toyota ( NYSE:TM) will unveil a competing solid-state battery next year.
So what
Nikkei reported that Toyota is planning to unveil a prototype electric vehicle powered by its own solid-state batteries next year, that it plans to be the first company to sell an EV powered by solid-state batteries, with that vehicle coming to market in the "early 2020s," and that the Japanese government is backing the effort.
Now what
Does this mean all is lost? Not at all. QuantumScape is a smart company with a prototype of what could be a genuinely game-changing product -- and a partner (VW) that is one of the auto industry's heaviest hitters.
