Today, battery maker QuantumScape (NYSE:QS) is among the big winners in the market. Currently, QS stock has rocketed more than 20% higher on very heavy volume. This move is a continuation of a relatively strong trend over the past month. Indeed, over this time frame, QuantumScape has appreciated more than 50%.
Why all the buzz?
Well, there’s a big catalyst that’s propelling most battery and electric vehicle (EV) stocks higher today. President Joe Biden’s $1 trillion infrastructure spending bill has officially been approved. Late Friday, this bill was approved in Congress in a vote that saw a wider margin of acceptance than many initially thought. Accordingly, months of heckling about an infrastructure bill being impossible to pass are over.
However, for battery maker QuantumScape, this bill is a big deal. More infrastructure spending in the EV space provides a rising tide that should lift all boats. For investors in QuantumScape, a return to bullish catalysts is a welcome sight.
That said, there’s another catalyst investors are looking at right now. Let’s dive into what’s going on with QS stock today.
QS Stock Surges Amid Confluence of Catalysts
In addition to the big political news driving EV-related stocks higher, QuantumScape has its own catalyst today. The company announced the launch of its QS campus this morning.
This campus is what QuantumScape hopes will be the future of the company’s manufacturing activities. Currently, this campus consists of the company’s pre-pilot production line. However, over the years, QuantumScape hopes to build out its footprint and manufacturing capacity.
Growth investors seem to like the direction QuantumScape is headed with its solid-state battery potential. Of course, these batteries are still years away from production. However, this news has stoked the interest of long-term investors who view QS stock as a ticket to the future of the battery sector altogether.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
