QuantumScape (QS) Snaps 9-Day Win on Profit-Taking, Ahead of Q2 Earnings

We recently published 10 Big Names Get Slammed. QuantumScape Corporation (NYSE:QS) is one of the biggest losers on Monday.

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.

A line of electric vehicles parked in front of a research & development building in San Jose, California.

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.