Why Did QuantumScape Stock Jump Over 10% This Week?
Key Points
QuantumScape is getting ready to provide an update on its first production line.
That will come with its next quarterly report on April 22.
Steps toward commercialization could be a catalyst for more stock gains.
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While off the highs of the week, when it was up nearly 20% since last Friday's close, QuantumScape (NASDAQ: QS) still closed this week 11.6% higher, according to data provided by S&P Global Market Intelligence.
Shares of the solid-state battery maker bounced after being down more than 40% year to date and outperformed the Nasdaq Composite index, which also had a strong week, up nearly 7%.
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How close to commercial sales?
Investors bought the dip in QuantumScape stock this week with its first-quarter report coming Wednesday, April 22, after the market closes. There is hope that management will follow up on its February update with further news regarding its Eagle Line battery production facility.
After expanding its agreement with the battery manufacturer of the Volkswagen Group, PowerCo., last year, QuantumScape also expanded its planned customer base and initiated agreements with manufacturers to help scale up production. In February, it launched its pilot production Eagle Line.
Investors should focus on that line, whether it is already producing sample battery cells for customer testing, whether it confirms scalable production, and what management says about commercialization with specific customers.
Progress in those areas could mean this week's stock move was just the start of another leg higher. Failure to achieve its goals will likely cause this week's gains to evaporate quickly. Investors should consider those risks when investing in QuantumScape.
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Howard Smith has positions in QuantumScape. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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