A resistance line has emerged in the chart of QuantumScape Corp. (QS), If the stock manages to break through this level, a breakout is expected. Make sure to read more to learn how to take advantage of this trade.QuantumScape Corp. (QS) is engaged in development of next generation solid-state lithium-metal batteries for use in electric vehicles. The company has well-known investors including Bill Gates and Volkswagen (DE:VOWG_p) (VWAGY (OTC:VWAGY)). The company's solid-state lithium-metal batteries are expected to have significant advantages over current lithium batteries.
QS has developed a ceramic material that can be used as a solid-state separator in a battery cell. This can significantly reduce charging times and improve performance and fire safety. The firm recently announced that independent third-party tests verified the performance of its batteries.
As of the end of September, the company had $1.5 billion in cash, which compares favorably to only $66 million in long-term debt. Analyst forecast earnings to soar 95.4% year over year in the current quarter.