QuantumScape Stock Is Ripping Higher Thursday: What's Going On?

QuantumScape Corp (NYSE:QS) shares are trading higher Thursday after the company said it began producing its first b-sample cells and started shipping them to customers for testing.

What Happened: QuantumScape reported third-quarter financial results after the market close on Wednesday. The company reported a third-quarter loss of 23 cents per share, which was in line with analyst estimates, according to Benzinga Pro.

In a letter to shareholders, the company announced that it started producing low volumes of its first B-sample cells, QSE-5. QuantumScape also said it began shipping the cells, which have energy density of over 800 Wh/L and fast-charging capabilities in under 15 minutes, for automotive customer testing.

“QSE-5 represents an important milestone for our company and the battery industry as a whole. These cells ...