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QuantumScape Corp (NYSE:QS) shares are trading lower Wednesday morning as the market anticipates its third-quarter earnings report after the closing bell. This pullback follows a significant rally that saw the stock last week hit a new 52-week high.
What To Know: The recent investor optimism was fueled by China’s new export licensing on critical battery materials, which highlighted the strategic importance of US-based alternatives.
As a pre-revenue company developing next-generation solid-state batteries, QuantumScape’s earnings are not measured by profit. Instead, investors will scrutinize the report for updates on technological milestones, progress with automotive partners and its path to commercialization.
The report follows a pattern of expected EPS losses, typical for a tech company in its development phase. Investors are keen to see if the company’s projected timeline and performance can continue to justify its multi-billion dollar valuation amid the speculative fervor. Analysts expect the company to report a loss of 20 cents per share after the bell on Wednesday.
Benzinga Edge Rankings: Reflecting its powerful recent rally, QuantumScape boasts an exceptional Benzinga Edge Momentum score of 98.05.
QS Price Action: QuantumScape shares were down 12.76% at $13.55 at the time of publication on Wednesday, according to data from Benzinga Pro. The stock is trading within its 52-week range of $3.40 to $19.06.
Currently, the stock is trading approximately above its 50-day moving average of $11.49 and substantially above its 200-day moving average of $7.06. These indicators suggest that, while the stock has experienced a pullback, it remains in a bullish trend over the longer term.
Read Also: Netflix Slides On Brazil Tax Hit — But Growth Story Remains Intact
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in QuantumScape’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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Posted In: QS
