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QuantumScape: Game-Changing Tech, or Just Another Pump-and-Dump Scheme?

QuantumScape claims it has game-changing technology in a red-hot EV battery space. Details are scarc

QuantumScape: Game-Changing Tech, or Just Another Pump-and-Dump Scheme?

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{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":169075063,"tweetId":"169075063","gmtCreate":1623810719452,"gmtModify":1634027750800,"author":{"id":3583739145792830,"idStr":"3583739145792830","authorId":3583739145792830,"authorIdStr":"3583739145792830","name":"43735275","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":0,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Like and comment</body></html>","htmlText":"<html><head></head><body>Like and comment</body></html>","text":"Like and comment","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/169075063","repostId":1107415674,"repostType":4,"repost":{"id":"1107415674","kind":"news","pubTimestamp":1623810568,"share":"https://ttm.financial/m/news/1107415674?lang=&edition=full","pubTime":"2021-06-16 10:29","market":"us","language":"en","title":"QuantumScape: Game-Changing Tech, or Just Another Pump-and-Dump Scheme?","url":"https://stock-news.laohu8.com/highlight/detail?id=1107415674","media":"InvestorPlace","summary":"QuantumScape claims it has game-changing technology in a red-hot EV battery space. Details are scarc","content":"QuantumScape claims it has game-changing technology in a red-hot EV battery space. Details are scarce.\n<img src=\"https://static.tigerbbs.com/1fe75742d59fda839891208141dc5233\" tg-width=\"1024\" tg-height=\"576\">Source: Michael Vi / Shutterstock.com\nThe future of battery technology is a slender sheet of ceramic material that’s pliable enough to bend between two fingers.QuantumScape(NYSE:QS) claims to have the secret recipe for anext-generation battery that can boost the range of an electric car by as much as 50% and reduce charging time to less than 15 minutes. It has been tight-lipped abouthow. And while QuantumScape is a company with fewer than 250 employees making a non-commercial technology that hasn’t made it into a single electric vehicle (EV), it’s valued at an eye-opening $11 billion. That’safterQS stock fell almost 80% from a high of $130 last December.\nCan anyone really make a solid state battery? If so, when? And with QuantumScape stock down to a more reasonable valuation, is now the time to buy?\nHere’s a closer look.\nQS Stock and the Art of EV Alchemy\nFounded by Stanford University scientists a decade ago, and backed by&nbsp;Volkswagen AG(OTCMKTS:VWAGY),Microsoft(NASDAQ:MSFT) and Bill Gates himself,QuantumScape became a public company last November after merging with Kensington Capital Acquisition Corp. Kensington Capital is a SPAC (special-purpose acquisition company).\nQS was backed by promising data, but has no commercial product and zero revenue. It’s easy to understand investors’ fanatical interest in EV battery technology. After all,EVs are one of the few products whose adoption is limited by battery performance.The promise of new solid-state batteries is alluring: faster charging, better energy-storage capacity and longer life.\nIf batteries could deliver these benefits, EVs could take more market share, faster, from cars with internal combustion engines.\nFueled by magical thinking, QuantumScape’s valuation skyrocketed from $3.3 billion when the deal was announced in September to over $33 billion only a month after its public debut. The shift was so dramatic that it&nbsp;briefly surpassed&nbsp;Ford&nbsp;(NYSE:F). Just to give you some perspective on the insanity, Ford sold more than half a million cars and trucks in the U.S. in that same quarter.\nBut QS stock didn’t spend much time in the stratosphere. Following an&nbsp;April short report by activist firm Scorpion Capital, which called the company a “scam,”QuantumScape stock fell back down to earth. Shares now trade around $28 — down 80% from their peak.\nWelcome to the SPAC Jungle\nIn many ways, the QuantumScape story is nothing new. It’s seemingly just one of a handful of crash-and-burn SPAC IPOs in an overheated electric vehicle sector.\nUntil last year, going public before delivering a purchasable product was pretty unusual in the automotive world.But no longer. Today, the EV space is rampant with pre-revenue upstarts trading at head-scratchingvaluations, ranging from carmakers&nbsp;Lucid Motors,Nikola&nbsp;(NASDAQ:NKLA) and&nbsp;Fisker(NYSE:FSKR), to name a few. QuantumScape is also just one of a slew of overpromising, under-delivering SPACs to meet their (market) maker.\nFor example, EV truck-maker&nbsp;Lordstown Motors(NASDAQ:RIDE) imploded earlier this week, and Nikola and&nbsp;Canoo(NASDAQ:GOEV) have both been targeted by short sellers. Oh, and don’t forget the extra salt in the fresh wound here — the Securities and Exchanges Commission is currentlyinvestigating RIDE and NKLA.\nThe SPAC jungle is about as far from Paradise City as you can get.\nBut… If It’s Real, It’s Revolutionary\nHowever, there is one way QuantumScape may stand apart from the quickly expanding graveyard of failed EV startups. If Chief Executive Officer Jagdeep Singh’s team of scientists have succeededwith their revolutionary design, they will have pulled off an astronomical feat.\nToday’s batteries generally have liquid electrolytes — the medium that allows the charge to travel between a cathode and anode. Typically, the electrodes are solid graphite. But QuantumScapeclaims to have developed a proprietary material that it can use to make solid-state batteries that will replace the current carbon or silicon anodes with lithium-metal anodes. In other words, these “solid-state” batteries are more energy-dense. They can provide a much longer range without the need to recharge. They can recharge faster compared to the current batteries. And, in theory, they have significantly lower production costs.\nSeveral battery startups, includingIonic Materials,Sila Nanotechnologies,Sion PowerandSolid Power, are developing all-solid-state batteries (ASSBs). Each of these are expected to be safer and more energy-dense than the lithium-ion products used in today’s EVs and battery systems. Yet, QuantumScape has been the center of attention since the speculation that&nbsp;Apple(NASDAQ:AAPL)&nbsp;could team with Volkswagen to build the Apple iCar.For context,Volkswagen owns 13% of QuantumScape.\nIf the two companies team up, QS could become the company’s go-to EV battery supplier.\nQuantumScape Endures a&nbsp;Scorpion’s Sting\nQuantumScape tells a compelling story. The trouble is that secrecy runs high in the battery industry. That means there’s very little data to substantiate the company’s claims.\nTo be fair, QuantumScape’s batteries (like those of its peers) have only been tested in labs so far. And because there’s no independent verification of claims,industry-wide comparisons are virtually impossible.In fact, QuantumScape&nbsp;even required a photographer to use a color-shifting filter before capturing images&nbsp;of its technology, just in case the material’s true hue revealed any part of its secret recipe.\nThis combination of hype and mystery is catnip for short sellers. So whenScorpion Capital issued its damaging report, the market took notice. Scion called QuantumScape’s test results“cherry-picked”and not industry standard. Essentially, Scorpion suggested that the technology really isn’t viable.\nIndeed, Quantum’s technology is still new and the company doesn’t expect tostart pilot production of its batteries until 2024.Volume sales aren’t expected until 2026 or 2027. Infive years, “the company expects to have a production capacity of 6 GWh (gigawatt hours), which would be&nbsp;enough to support around 60,000 vehicles.” And it might take a year from there to achieve positive EBITDA.\nHalf-Baked Tech\nInvestors hoping to get a sense of the viability of the technology will have to wait a few years. And, the company itself clearly has its work cut out for it.It’s a long haul to commercial production — including creating EV-sized batteries and scaling up manufacturing.\nThere are several other technical factors that the company needs to work on as well before its product is ready for use. Most importantly, QuantumScape&nbsp;has only produced single-layer cells. To meet the needs of a working EV, it needs to find a way to stack more than 100 on top of each other to create a battery package.Yet, in its most recent quarterly letter, QuantumScape shared encouraging results and reiterated expectations of starting commercial production in the 2024-2025 timeframe.\nWhen In Doubt, Buy Ford Rather Than QS Stock\nWith just under 19% of the float short, QuantumScape has plenty of doubters.But even assuming QuantumScape’s forecasts prove accurate, the valuation is still hard to get your head around. At today’s market capitalization of just under $11 billion, QS stock is trading at3.4x 2027 revenue. Volkswagen (QuantumScape’s biggest customer) and Ford both trade at 0.5x forward sales.\nWith the jury still out as to whether QuantumScape can achieve its solid-state battery breakthrough, perhaps the best way to play the speculative solid state battery space right now is simply to buy Ford stock. Ford is alsoa derivative play on QuantumScape competitor Solid Power(Ford is an early investor), whichis said to be in talks to go public through a SPAC merger with&nbsp;Decarbonization Plus Acquisition Corp. III(NASDAQ:DCRC). Ultimately, an incumbent automaker with skin in the game trading at a reasonable valuation makes for a better/risk reward.","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>QuantumScape: Game-Changing Tech, or Just Another Pump-and-Dump Scheme?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nQuantumScape: Game-Changing Tech, or Just Another Pump-and-Dump Scheme?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 10:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/06/qs-stock-is-quantumscape-just-a-pump-and-dump-scheme/>InvestorPlace</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nQuantumScape claims it has game-changing technology in a red-hot EV battery space. Details are scarce.\nSource: Michael Vi / Shutterstock.com\nThe future of battery technology is a slender sheet of ...\n\n<a href=\"https://investorplace.com/2021/06/qs-stock-is-quantumscape-just-a-pump-and-dump-scheme/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QS":"Quantumscape Corp."},"source_url":"https://investorplace.com/2021/06/qs-stock-is-quantumscape-just-a-pump-and-dump-scheme/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107415674","content_text":"QuantumScape claims it has game-changing technology in a red-hot EV battery space. Details are scarce.\nSource: Michael Vi / Shutterstock.com\nThe future of battery technology is a slender sheet of ceramic material that’s pliable enough to bend between two fingers.QuantumScape(NYSE:QS) claims to have the secret recipe for anext-generation battery that can boost the range of an electric car by as much as 50% and reduce charging time to less than 15 minutes. It has been tight-lipped abouthow. And while QuantumScape is a company with fewer than 250 employees making a non-commercial technology that hasn’t made it into a single electric vehicle (EV), it’s valued at an eye-opening $11 billion. That’safterQS stock fell almost 80% from a high of $130 last December.\nCan anyone really make a solid state battery? If so, when? And with QuantumScape stock down to a more reasonable valuation, is now the time to buy?\nHere’s a closer look.\nQS Stock and the Art of EV Alchemy\nFounded by Stanford University scientists a decade ago, and backed by Volkswagen AG(OTCMKTS:VWAGY),Microsoft(NASDAQ:MSFT) and Bill Gates himself,QuantumScape became a public company last November after merging with Kensington Capital Acquisition Corp. Kensington Capital is a SPAC (special-purpose acquisition company).\nQS was backed by promising data, but has no commercial product and zero revenue. It’s easy to understand investors’ fanatical interest in EV battery technology. After all,EVs are one of the few products whose adoption is limited by battery performance.The promise of new solid-state batteries is alluring: faster charging, better energy-storage capacity and longer life.\nIf batteries could deliver these benefits, EVs could take more market share, faster, from cars with internal combustion engines.\nFueled by magical thinking, QuantumScape’s valuation skyrocketed from $3.3 billion when the deal was announced in September to over $33 billion only a month after its public debut. The shift was so dramatic that it briefly surpassed Ford (NYSE:F). Just to give you some perspective on the insanity, Ford sold more than half a million cars and trucks in the U.S. in that same quarter.\nBut QS stock didn’t spend much time in the stratosphere. Following an April short report by activist firm Scorpion Capital, which called the company a “scam,”QuantumScape stock fell back down to earth. Shares now trade around $28 — down 80% from their peak.\nWelcome to the SPAC Jungle\nIn many ways, the QuantumScape story is nothing new. It’s seemingly just one of a handful of crash-and-burn SPAC IPOs in an overheated electric vehicle sector.\nUntil last year, going public before delivering a purchasable product was pretty unusual in the automotive world.But no longer. Today, the EV space is rampant with pre-revenue upstarts trading at head-scratchingvaluations, ranging from carmakers Lucid Motors,Nikola (NASDAQ:NKLA) and Fisker(NYSE:FSKR), to name a few. QuantumScape is also just one of a slew of overpromising, under-delivering SPACs to meet their (market) maker.\nFor example, EV truck-maker Lordstown Motors(NASDAQ:RIDE) imploded earlier this week, and Nikola and Canoo(NASDAQ:GOEV) have both been targeted by short sellers. Oh, and don’t forget the extra salt in the fresh wound here — the Securities and Exchanges Commission is currentlyinvestigating RIDE and NKLA.\nThe SPAC jungle is about as far from Paradise City as you can get.\nBut… If It’s Real, It’s Revolutionary\nHowever, there is one way QuantumScape may stand apart from the quickly expanding graveyard of failed EV startups. If Chief Executive Officer Jagdeep Singh’s team of scientists have succeededwith their revolutionary design, they will have pulled off an astronomical feat.\nToday’s batteries generally have liquid electrolytes — the medium that allows the charge to travel between a cathode and anode. Typically, the electrodes are solid graphite. But QuantumScapeclaims to have developed a proprietary material that it can use to make solid-state batteries that will replace the current carbon or silicon anodes with lithium-metal anodes. In other words, these “solid-state” batteries are more energy-dense. They can provide a much longer range without the need to recharge. They can recharge faster compared to the current batteries. And, in theory, they have significantly lower production costs.\nSeveral battery startups, includingIonic Materials,Sila Nanotechnologies,Sion PowerandSolid Power, are developing all-solid-state batteries (ASSBs). Each of these are expected to be safer and more energy-dense than the lithium-ion products used in today’s EVs and battery systems. Yet, QuantumScape has been the center of attention since the speculation that Apple(NASDAQ:AAPL) could team with Volkswagen to build the Apple iCar.For context,Volkswagen owns 13% of QuantumScape.\nIf the two companies team up, QS could become the company’s go-to EV battery supplier.\nQuantumScape Endures a Scorpion’s Sting\nQuantumScape tells a compelling story. The trouble is that secrecy runs high in the battery industry. That means there’s very little data to substantiate the company’s claims.\nTo be fair, QuantumScape’s batteries (like those of its peers) have only been tested in labs so far. And because there’s no independent verification of claims,industry-wide comparisons are virtually impossible.In fact, QuantumScape even required a photographer to use a color-shifting filter before capturing images of its technology, just in case the material’s true hue revealed any part of its secret recipe.\nThis combination of hype and mystery is catnip for short sellers. So whenScorpion Capital issued its damaging report, the market took notice. Scion called QuantumScape’s test results“cherry-picked”and not industry standard. Essentially, Scorpion suggested that the technology really isn’t viable.\nIndeed, Quantum’s technology is still new and the company doesn’t expect tostart pilot production of its batteries until 2024.Volume sales aren’t expected until 2026 or 2027. Infive years, “the company expects to have a production capacity of 6 GWh (gigawatt hours), which would be enough to support around 60,000 vehicles.” And it might take a year from there to achieve positive EBITDA.\nHalf-Baked Tech\nInvestors hoping to get a sense of the viability of the technology will have to wait a few years. And, the company itself clearly has its work cut out for it.It’s a long haul to commercial production — including creating EV-sized batteries and scaling up manufacturing.\nThere are several other technical factors that the company needs to work on as well before its product is ready for use. Most importantly, QuantumScape has only produced single-layer cells. To meet the needs of a working EV, it needs to find a way to stack more than 100 on top of each other to create a battery package.Yet, in its most recent quarterly letter, QuantumScape shared encouraging results and reiterated expectations of starting commercial production in the 2024-2025 timeframe.\nWhen In Doubt, Buy Ford Rather Than QS Stock\nWith just under 19% of the float short, QuantumScape has plenty of doubters.But even assuming QuantumScape’s forecasts prove accurate, the valuation is still hard to get your head around. At today’s market capitalization of just under $11 billion, QS stock is trading at3.4x 2027 revenue. Volkswagen (QuantumScape’s biggest customer) and Ford both trade at 0.5x forward sales.\nWith the jury still out as to whether QuantumScape can achieve its solid-state battery breakthrough, perhaps the best way to play the speculative solid state battery space right now is simply to buy Ford stock. Ford is alsoa derivative play on QuantumScape competitor Solid Power(Ford is an early investor), whichis said to be in talks to go public through a SPAC merger with Decarbonization Plus Acquisition Corp. III(NASDAQ:DCRC). Ultimately, an incumbent automaker with skin in the game trading at a reasonable valuation makes for a better/risk reward.","news_type":1,"symbols_score_info":{"QS":0.9}},"isVote":1,"tweetType":1,"viewCount":595,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":14,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}

QuantumScape: Game-Changing Tech, or Just Another Pump-and-Dump Scheme?

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