This EV stock is up over 110% in 10 days; time to buy?
The post This EV stock is up over 110% in 10 days; time to buy? appeared on BitcoinEthereumNews.com. QuantumScape (NYSE: QS) has seen a spectacular 110.56% gain over the past 10 trading days, nearly doubling from $7.01 on July 7 to $14.76 at the time of publication on July 18. The electric vehicle battery developer, which has seen its stock rise by over 237% in the past month, has now extended its winning streak to eight consecutive sessions. QS 1 month price chart. Source: Google Finance QuantumScape’s surge began after the company announced it was moving into production with its Cobra separator, resulting in a tripling of the stock price since then. Lucid-Uber deal fuels the rally The recent partnership between Lucid and Uber further fueled QuantumScape’s rally, even though the company isn’t directly involved in the arrangement. Uber (NYSE: UBER) announced a $300 million investment in Lucid for a robotaxi partnership that includes autonomous vehicle technology from startup Nuro. The deal has broader implications for the EV battery sector, as Lucid (NASDAQ: LCID) has expressed intentions to incorporate solid-state batteries into its vehicles due to their superior energy density, faster charging capabilities, and extended range compared to traditional lithium-ion batteries. While nobody knows which battery partner Lucid might pick, the deal has investors betting on the whole solid-state battery space. Wall Street warns of a 57% downside ahead The explosive price action stands in sharp contrast to Wall Street analyst sentiment. Five analysts covering QuantumScape have issued a collective “Hold” rating, with four holds, one buy, and zero sell recommendations over the past three months. QS stock forecast. Source: TipRanks More telling are the price targets, which suggest significant downside ahead. Analysts project an average 12-month price target of $6.33, representing a 57% decline from current levels around $14.79. The forecasts range from a high of $8.00 to a low of $5.00, with even the most optimistic…
The post This EV stock is up over 110% in 10 days; time to buy? appeared on BitcoinEthereumNews.com.
QuantumScape (NYSE: QS) has seen a spectacular 110.56% gain over the past 10 trading days, nearly doubling from $7.01 on July 7 to $14.76 at the time of publication on July 18. The electric vehicle battery developer, which has seen its stock rise by over 237% in the past month, has now extended its winning streak to eight consecutive sessions. QS 1 month price chart. Source: Google Finance QuantumScape’s surge began after the company announced it was moving into production with its Cobra separator, resulting in a tripling of the stock price since then. Lucid-Uber deal fuels the rally The recent partnership between Lucid and Uber further fueled QuantumScape’s rally, even though the company isn’t directly involved in the arrangement. Uber (NYSE: UBER) announced a $300 million investment in Lucid for a robotaxi partnership that includes autonomous vehicle technology from startup Nuro. The deal has broader implications for the EV battery sector, as Lucid (NASDAQ: LCID) has expressed intentions to incorporate solid-state batteries into its vehicles due to their superior energy density, faster charging capabilities, and extended range compared to traditional lithium-ion batteries. While nobody knows which battery partner Lucid might pick, the deal has investors betting on the whole solid-state battery space. Wall Street warns of a 57% downside ahead The explosive price action stands in sharp contrast to Wall Street analyst sentiment. Five analysts covering QuantumScape have issued a collective “Hold” rating, with four holds, one buy, and zero sell recommendations over the past three months. QS stock forecast. Source: TipRanks More telling are the price targets, which suggest significant downside ahead. Analysts project an average 12-month price target of $6.33, representing a 57% decline from current levels around $14.79. The forecasts range from a high of $8.00 to a low of $5.00, with even the most optimistic…
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