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QS Stock: Why Battery Play QuantumScape Is Charging Up Today

Today is bringing big moves in the electric vehicle space, and QuantumScape (NYSE:QS) is one of the winners. Right now, QS stock is up roughly 20% thanks to a big catalyst. So what is that catalyst? And what else do you need to know?

The entrance to QuantumScape Headquarters QS stock

Source: Tada Images / Shutterstock.com

To start, investors should get a quick refresher on QuantumScape. The solid-state battery startup recently came public after merging with a special purpose acquisition company. Its debut was met with great fanfare, especially because big names like Bill Gates support QS.

Then, things really started to heat up. In a battery tech update, QuantumScape shared some advancements in its next-generation batteries. At the time, the company said its batteries were capable of reaching 80% charge in 15 minutes. That greatly outperforms existing battery solutions in the market. And perhaps most importantly, many investors believed that new QuantumScape batteries could seriously boost consumer adoption of electric vehicles. Not only would this lift QS stock, it would create long-term catalysts for a handful of EV names.

Investors should also note that QS stock has had a rocky few weeks. A resale filing with the U.S. Securities and Exchange Commission spooked bulls and sent shares down.

However, the story with QuantumScape looks to be turning around today thanks to one standout analyst note. So what do you need to know?

Today, QS stock fans can thank Morgan Stanley analyst Adam Jonas for the rally. In a report looking at future winners in the EV space, Jonas picked QuantumScape as a winner. He raised his price target on shares to $70. He said it was a potential game-changer, and that it had one of the most appealing narratives in EV stocks. Investors should also note that he picked Fisker (NYSE:FSR) as another favorite.

What to Know About QS Stock Here

So what else should you know about QuantumScape and QS stock here?

There are two things that stand out. It is clear that Jonas, and many retail investors, are bullish on the solid-state battery play. However, the company needs to ramp up production and get that tech on the market. Once it does, its partnerships and innovation make the company look quite appealing. In fact, InvestorPlace contributor Faizan Farooque recently wrote that nothing should stop investors from starting a position in QS stock here.

The other thing to stand out is that major catalysts are coming to the EV space in general. One of those comes from President Joe Biden. In recent weeks, he shared his plans to electrify the federal fleet. While that directly boosts EV makers, those cars will need batteries to really run. And, with the government leading the way, we could see ripple effects in consumer adoption. That means EV bulls should really keep QuantumScape on their radars here.

On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. 

Sarah Smith is a Web Content Producer with InvestorPlace.com. 


Article printed from InvestorPlace Media, https://investorplace.com/2021/02/qs-stock-why-battery-play-quantumscape-is-charging-up-today/.

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