QuantumScape (QS) Stock Hit A New 52-Week High Today: What's Going On?

Shares of QuantumScape Corp (NYSE:QS) soared to a new 52-week high Friday, capping a week of significant gains.

What To Know: The stock’s impressive climb follows the recent announcement of a strategic partnership with manufacturing giant Corning Inc to accelerate the commercialization of its solid-state lithium-metal batteries.

This collaboration, aimed at developing high-volume manufacturing of ceramic separators, has ignited investor confidence in QuantumScape’s path to production. The news builds on the company’s recent positive momentum, including a successful battery demonstration in a Volkswagen vehicle earlier this year.

The stock has seen a more than 190% increase year-to-date, with Friday’s trading volume significantly above average. The recent breakout past the key resistance level of $14.70 could be a bullish indicator for the next-generation battery developer.

Benzinga Edge Rankings: Underscoring its recent performance, QuantumScape holds a powerful Momentum score of 97.43 according to Benzinga Edge proprietary stock rankings.

QS Price Action: QuantumScape shares were up 11.68% at $15.97 at the time of publication Friday, according to Benzinga Pro.

The stock is well above its 50-day moving average of $9.83, indicating strong bullish momentum. Key resistance is observed near the recent high of $16.39, while support can be identified at the 50-day moving average.

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How To Buy QS Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in QuantumScape’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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