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QuantumScape (QS) Stock Takes a Breather Following Its Epic Nine-Day Run
The impressive nine-day rally of QuantumScape’s stock price has come to an end, at least for now. The company’s shares plummeted by 14.48% on Monday, closing the day at $12.52. This drastic decline can be attributed to investors taking profits ahead of the upcoming Q2 earnings report.
The remarkable surge that led up to this point had seen QuantumScape’s stock gain a staggering 114%, with many analysts attributing this rise to the company’s newly announced Cobra separator production process. This innovative technology boasts a significant advantage over its predecessor, Raptor, offering approximately 25 times faster heat treatment speed and reduced physical space requirements.
Despite the recent pullback, options traders are bracing for a high level of volatility following the earnings report. Market expectations suggest a potential 17.33% move in either direction, reflecting the uncertainty surrounding the company’s progress and commercial viability.
The Wall Street consensus remains neutral, with TipRanks’ AI stock analysis assigning a similar rating to QuantumScape shares. The Hold consensus among analysts is based on one Buy and four Hold recommendations issued within the last three months.
Source: blockonomi.com
