QuantumScape's $490M Volume Ranks 235th in U.S. Market Amid Solid-State Tech Push and Debt Plans

On September 25, 2025, QuantumScape (QS) closed with a 0.08% gain, trading at a volume of $490 million, ranking 235th in market activity among U.S. equities. The stock's performance reflected limited directional momentum amid broader market consolidation. Key developments influencing the stock included updates on its solid-state battery technology partnerships and regulatory filings outlining capital-raising plans. Analysts noted that investor sentiment remained cautious, with technical indicators showing mixed momentum across near-term timeframes.

Recent corporate activity highlighted QuantumScape's strategic focus on scaling production timelines for its next-generation battery prototypes. A SEC filing disclosed plans to issue convertible debt to fund R&D initiatives, a move analysts said could stabilize liquidity while avoiding immediate equity dilution. Market participants also tracked patent filings related to electrode material innovations, which could strengthen the company's competitive positioning in the EV supply chain. However, no material earnings or partnership announcements were disclosed during the reporting period.

To run this back-test accurately I’ll need to clarify a couple of points: 1. Universe of stocks • Should I rank all U.S. listed common stocks (NYSE + NASDAQ), or do you have another market/universe in mind? 2. Weighting & transaction assumptions • Equal-weight the 500 names each day? • Ignore transaction costs/slippage, or should I include an estimate? 3. Benchmark (optional) • Would you like the strategy compared with any index (e.g., S&P 500) for context? Once I have these details I can pull the required data and run the back-test from 2022-01-01 through today.