Jim Cramer Discussed These 11 Stocks Recently

3. QuantumScape Corporation (NYSE:QS)

Number of Hedge Fund Holders: 22

Cramer did a deep-dive into QuantumScape Corporation (NYSE:QS) and how the market reacted to it after its IPO in 2020.

“It’s a company called QuantumScape. QuantumScape, which in retrospect was basically a science experiment looking to develop better battery technology for electric vehicles. Anyone can develop better, more efficient batteries with the ability to charge very quickly and and, and you can make a killing even in a world where electric cars have lost some of their luster.

But QuantumScape was a long way from having anything they could actually commercialize and they could sell. Even four years later, these guys still didn’t have any meaningful revenue. Back in 2020 and early 2021, Wall Street was still giving the benefit of the doubt to anything connected to electric vehicles. QuantumScape came public via a SPAC deal and you have to be, remember, you have to be really skeptical of those. And when that merger was announced, the SPAC it was merging with, saw its stock more than double in just two trading sessions putting it in the 20s.”

Cramer then highlighted QuantumScape’s (NYSE:QS) rapid rise to $132 in December 2020, driven by hype around its electric vehicle technology, before the stock was targeted by short sellers. Cramer mentioned that as Wall Street lost interest in unprofitable, speculative companies, the stock plummeted by late 2022. He noted that any recent rebounds were likely due to short squeezes rather than any real improvement in the company’s fundamentals.

QuantumScape (NYSE:QS) is a research and development firm dedicated to creating and commercializing solid-state lithium-metal batteries for electric vehicles and other applications.