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Jan. 4, 2021, 2:34 p.m. EST

QuantumScape stock falls more than 30%, its most ever

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By claudia Assis

Shares of electric car-battery developer QuantumScape Corp. fell the most ever on Monday, a day that saw stocks of EV makers soaring on sales news.

QuantumScape /zigman2/quotes/219305490/composite QS +7.48% shares were down nearly 39% at last check, poised for their lowest close since Dec. 7 and suffering their worst one-day percentage loss on record.

Related: Tesla and other EV makers report record sales, sending stocks to new highs

The stock was on a tear for most of 2020, including a 31% jump on Dec. 8, when it released performance data for its solid-state battery and said that the batteries, according to company tests, were far more lasting and faster to recharge than conventional batteries.

QuantumScape went public in November after a merger with a blank-check company, a path that many companies, including EV- and alternative-energy ones, have taken in recent months. .

Monday’s losses extend the stock’s down trajectory to a fourth session, with the shares losing 55% over the period. QuantumScape shares are down 61% from its record closing high of $131.67 on Dec. 22.

Lithium-ion batteries presently in use in electric vehicles as well as tools and gadgets rely on liquid electrolyte solutions. Higher energy-density, cheaper-to-make solid-state batteries are expected to further increase range and shorten charging times for EVs in the future.

In addition to QuantumScape and other companies such as Samsung SDI Co. Ltd /zigman2/quotes/202065513/delayed KR:006400 +2.47% , research and development units of several auto makers, including Toyota Corp.’s /zigman2/quotes/200537742/composite TM -0.18% , are focusing on solid-state batteries for EVs.

Volkswagen AG /zigman2/quotes/206919008/delayed XE:VOW -0.26% in June increased its stake in QuantumScape and said it was making an additional investment of up to $200 million in the company.

/zigman2/quotes/219305490/composite
US : U.S.: NYSE
$ 59.61
+4.15 +7.48%
Volume: 13.07M
Feb. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$20.19 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202065513/delayed
KR : S. Korea: KRX
704,000
+17,000 +2.47%
Volume: 445,534
Feb. 25, 2021 3:30p
P/E Ratio
228.23
Dividend Yield
0.14%
Market Cap
₩47185.91 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200537742/composite
US : U.S.: NYSE
$ 152.45
-0.28 -0.18%
Volume: 419,328
Feb. 24, 2021 4:00p
P/E Ratio
14.86
Dividend Yield
2.47%
Market Cap
$214.39 billion
Rev. per Employee
$765,642
loading...
/zigman2/quotes/206919008/delayed
XE : Germany: Xetra
194.60
-0.50 -0.26%
Volume: 33,581
Feb. 25, 2021 1:38p
P/E Ratio
24.01
Dividend Yield
2.47%
Market Cap
€91.93 billion
Rev. per Employee
€376,386
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