On the first trading day of the new year, shares of Quantumscape Corp fell over 40%. Since just December 22, shares are down over 62%. It turns out that a company that hasn’t even produced a product yet may not be worth as much GM or Ford, which have been producing vehicles for over 100 years.
Take a look at Quantumscape’s performance since November below:
MarketWatch writes of the stock’s collapse:
It isn’t clear what is driving Quantum stock down. There are no new research reports from Wall Street analysts, though there is a cautious post on Seeking Alpha, the crowdsourced research platform, about Quantum’s technology.