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Why Toyota News Is More Negative Than Positive For QuantumScape

Lately, QuantumScape (NYSE:QS) stock has held up well.

Several factors have played a role in this, but alongside factors like the resurgence of a “risk off” mindset among investors on promising macro data, some sector-related news is also giving QS stock a boost.

As InvestorPlace’s Samuel O’Brient reported on June 13, global automotive giant Toyota (NYSE:TM) plans to develop and build its own solid state batteries, or SSBs, for use in its EV lineup.

Based on QS’s performance since this story broke, clearly the market believes it to be a positive development.

However, taking a closer look at the news, that may not necessarily be the case. Instead, this could yet another reason why this stock is not worth it, even as a speculative buy.

Let me explain…

This post appeared first on InvestorPlace.