10 Big Names Get Slammed

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1. QuantumScape Corporation (NYSE:QS)

QuantumScape snapped a nine-day winning streak on Monday, losing 14.48 percent to close at $12.52 apiece as investors officially began taking profits following the consecutive days of surge to a new all-time high while repositioning portfolios ahead of its earnings report on Wednesday.

The nine-day winning streak saw the company jump by as high as 114 percent, which investors took as an opportunity to book gains.

Investor confidence was primarily driven by QuantumScape Corporation’s (NYSE:QS) announcement last month that it would scale up its production capabilities.

Called the Cobra separator, the new process is designed to enable faster, more energy-efficient production with a smaller equipment footprint compared to earlier processes.

As compared with the prior generation Raptor process, QuantumScape Corporation (NYSE:QS) said Cobra offers a ~25x improvement in heat treatment speed and occupies a fraction of the physical space per film start—both of which are key advantages in the design of a scalable gigafactory production line.

Investors will be closely watching out for QuantumScape Corporation’s (NYSE:QS) updated outlook for the rest of the year, with a new production process now in full swing.

While we acknowledge the potential of QS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than QS and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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