QuantumScape Sinks, Bucking Optimism Among EV-Related Stocks
- Shares tumbled as much as 44% Monday after 259% rally
- Registration statement was declared effective on Dec. 31
This article is for subscribers only.
Electric-car battery developer QuantumScape Corp.’s shares sank the most ever on Monday after nearly quintupling in a month.
Monday’s drop made the battery maker a stark outlier in the sector as most EV stocks continued a weekslong rally, and marked a pause in a string of gains that saw QuantumScape’s stock price surge 388% between its Nov. 27 merger with a blank-check company and Christmas Eve.