Why QuantumScape Dropped 9% Today

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Shares of QuantumScape (NYSE: QS) have been on a wild ride since it began trading publicly in late November 2020. After soaring close to 450%, shares have declined more than 60% over the last three weeks. 

Shares were down 9% today as of 3:30 p.m. EST.

A main driver of the spike in shares was the release of performance data on the company’s solid-state battery technology on Dec. 8, 2020. But a 41% single-day drop on Jan. 4 prompted the company to release a clarification related to QuantumScape’s share registration statement. 

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