10 Firms Mirror Broader Market Downturn Ahead of 2025

4. QuantumScape Corporation (NYSE:QS)

QuantumScape Corporation (NYSE:QS), an American company that develops solid-state rechargeable lithium metal batteries for electric cars, registered a 7.73-percent decline in its share price on Monday to finish at $5.49 apiece.

In the past five and 30 trading days, the company’s valuation also marked an 8.5-percent and 5.58-percent increase, respectively. However, the year-to-date share price saw an 18.06-percent decline.

While there was no clear catalyst that would drag down the company’s share price, investors were believed to have sold off positions while waiting for fresh developments to perk up the market.

Quantumscape designs and manufactures superior lithium batteries. With automobile manufacturers recognizing that batteries with energy-storage capacity are necessary to make EVs viable,  QuantumScape is poised to continue benefiting from the rapid growth of the EV market.