Why Shares of QuantumScape Soared 26% in February

After plunging 48% in January, shares of QuantumScape (NYSE: QS) rebounded in February and climbed 26%, according to data provided by S&P Global Market Intelligence. After the first week and a half of February, shares of QuantumScape were trading at about the same price -- $43 -- as they were at when the month began. On Feb. 11, Thefly.com reported that Adam Jonas, an analyst at Morgan Stanley, had initiated coverage on the stock, assigning an overweight rating and $70 price target -- a take that was especially noteworthy considering that a week earlier, Goldman Sachs had initiated coverage with a neutral rating and $42 price target.