TLDR
- QuantumScape stock climbed 17.9% with no company-specific news, riding momentum from last month’s Cobra separator production announcement
- The stock has tripled since announcing its solid-state battery technology milestone and going into production
- Lucid-Uber partnership announcement may have contributed to today’s gains, as Lucid has expressed interest in solid-state batteries
- QS closed at $14.64, up 7.65% for the day, near its 52-week high of $15.03 with volume hitting 148 million shares
- The company reports Q2 earnings on July 23, which could provide further updates on Cobra technology progress
QuantumScape stock continued its impressive run today, jumping nearly 18% despite the absence of fresh company news. The solid-state battery developer has been on a tear since last month’s production announcement.
The stock closed at $14.64, marking a 7.65% gain for the session. After-hours trading saw some pullback to $13.89, down 5.12% from the close.
Trading volume exploded to nearly 148 million shares. That’s nearly five times the average daily volume of 30.7 million shares, showing intense investor interest.
The surge puts QS near its new 52-week high of $15.03. This represents a dramatic turnaround from the stock’s yearly low of $3.40.
Over the past month alone, shares have rocketed more than 150%. The catalyst came when QuantumScape announced its Cobra separator had entered production.
This milestone represents a key step toward commercializing the company’s solid-state battery technology. The batteries promise higher energy density and faster charging compared to traditional lithium-ion batteries.
Partnership Momentum Builds
Today’s gains appeared linked to the Lucid-Uber partnership announcement. Uber will invest $300 million in Lucid for a robotaxi venture that includes autonomous vehicle technology from startup Nuro.
Lucid has previously stated its intention to incorporate solid-state batteries into its electric vehicles. The company sees the technology as crucial for extending range and reducing charging times.
While Lucid hasn’t specified which solid-state battery partner it would choose, QuantumScape’s recent production breakthrough puts it in the conversation. The timing of today’s rally suggests investors are connecting these dots.
QuantumScape has also expanded its partnership with Volkswagen’s PowerCo unit. This relationship has helped fuel optimism about the company’s path to commercialization.
Production Progress Takes Center Stage
The Cobra separator represents QuantumScape’s first commercial-scale production achievement. The component is essential for the company’s lithium-metal battery technology to function properly.
Getting to production has been a long journey for QuantumScape. The company has faced skepticism about its ability to scale its laboratory successes to manufacturing levels.
The production milestone has changed the narrative. Analysts have turned more bullish in the short term, though some maintain cautious hold ratings due to execution risks.
The company operates as a development-stage business, meaning traditional financial metrics take a backseat to technical progress. Revenue remains minimal as the focus stays on advancing the technology.
QuantumScape will report second-quarter earnings on July 23. While the financial numbers may be less important, any updates on Cobra production or new partnerships could move the stock further.
Investor sentiment has shifted dramatically from the stock’s earlier lows. The combination of technical breakthroughs and strategic partnerships has created renewed confidence in the company’s prospects.
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