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Why Did QuantumScape Stock Soar Today?

TheMotleyFool

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Solid-state battery maker QuantumScape (NASDAQ: QS) has been moving closer to commercializing its technology, and it received a major boost of confidence from a global automaker today.

News that the research and development (R) arm of Honda Motor (NYSE: HMC) is working with QuantumScape to advance its battery platform for electric vehicles (EVs) and other applications sent QuantumScape stock soaring today. As of 11:21, shares were up 12.9% after paring some of an earlier 16% gain.

Source Fool.com