Why QuantumScape Stock Just Popped 8%

Shares of QuantumScape (NYSE: QS) jumped 8.1% as of 1 p.m. EDT on Thursday after the solid-state rechargeable battery start-up announced that independent third-party tests verified the performance of its batteries as described in the company's own December 2020 presentation. QuantumScape reported that testing of three single-layer cells by Mobile Power Solutions, an independent lab, showed that its batteries successfully completed a simulation of how a battery might work in the real world, being roughly equivalent to 240,000 miles driven by a vehicle with a 300-mile range. This was still a lab test, and it remains to be shown that QuantumScape's technology will work in a real-world application.