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QuantumScape (NYSE:QS) stock is continuing to rally on Friday following an update from its latest earnings report.
That update focused on the company’s roadmap to new electric vehicle (EV) battery products. That includes plans for a commercial launch battery with a prospective launch customer. It also talked about the batteries’ capacity of more than 1,000 watt-hours per liter and the ability to charge from 10% to 80% in just 18 minutes.
One thing investors will note is that QuantumScape didn’t provide a hard timetable for when this battery will be ready to launch. Instead, it used vague statements like “as soon as possible.” That means traders will want to keep an eye on QS stock for more information about its battery project.
How This Affects QS Stock
Shares of QS stock already went through a major rally on Thursday following this announcement. The company’s shares were up despite its earnings per share of -26 cents, which missed Wall Street’s estimate of -20 cents per share. It was also wider than the -22 cents from the same time last year.
With all of this news, shares of QS stock are still seeing heavy trading on Friday. As of this writing, more than 8 million shares of the company’s stock have changed hands. For comparison, the company’s daily average trading volume is closer to 6.5 million shares.
QS stock is up 9.9% as of Friday morning.
Investors looking for even more of the latest stock market news will want to keep reading!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.