Why QuantumScape Stock Short-Circuited Today
One of QuantumScape's biggest allies is getting cold feet on EVs.
QuantumScape (NYSE: QS) stock stumbled in Monday morning trading after The Wall Street Journal reported that partner General Motors (NYSE: GM) is getting cold feet about the EV revolution.
Laws that promote electric vehicles and "emissions standards that are not aligned with market realities pose a serious threat to our business by undermining consumer choice and vehicle affordability," warns GM in an email to employees. Now, the automaker is lobbying to get EV-friendly legislation reversed.
GM's 180 has QuantumScape investors concerned: Shares of the battery research start-up were down by 13.7% as of 10:45 a.m. ET.
