QuantumScape Corp - Ordinary Shares - Class A Stock News

Many electric vehicle (EV) stocks soared to their all-time highs during the buying frenzy in meme and growth stocks in 2020 and 2021. But over the following four years, many of those stocks fizzled out as rising interest rates popped their bubbly valuations, cast a harsh light on their losses, and drove investors toward more conservative investments.

Electric vehicles (EVs) have the potential to revolutionize transportation. While the technology is evolving, mass adoption still encounters hurdles -- mainly around charging times and driving range compared to traditional gas-powered vehicles.

QuantumScape (QS 2.50%), a developer of solid-state batteries for electric vehicles (EVs), is again becoming quite an item on the stock market. Following the company's most recently published earnings report, investors have become notably more bullish on its shares, pushing their value higher.

QuantumScape (QS 2.50%), a developer of solid-state lithium metal batteries, posted its fourth-quarter report on Feb. 12. It didn't generate any revenue since it hasn't commercialized any of its batteries yet.

QuantumScape (QS -5.87%) stock is slumping in Wednesday's trading. The solid-state battery company's share price was down 4.2% as of 3:15 p.m.

While the S&P 500 (^GSPC -0.06%) and Dow Jones Industrial Average (^DJI -0.21%) are inching in opposite directions to start this shortened trading week, shares of QuantumScape (QS 3.44%) are moving decisively higher. A leading electric vehicle (EV) manufacturer has announced its plan to use solid-state batteries in their vehicles, and investors are sitting up and taking notice of the news.

Despite some recent headwinds, there are still plenty of reasons to be optimistic about electric vehicle stocks. For one, sales of EVs are making gains.

QuantumScape (QS 8.49%) stock was surging higher Thursday, and the share price was up 8.6% as of 1 p.m. ET today. Meanwhile, the S&P 500 index was up 0.5%, and the Nasdaq Composite index was up 0.8%.