QuantumScape Shares Drop 2.48% on $860M Volume as Solid-State Battery Delays and Strategic Shifts Spark Investor Doubt Ranking 118th in Market Activity

QuantumScape (QS) closed 2.48% lower on October 7, 2025, with a trading volume of $860 million, ranking it 118th in market activity. The decline follows recent developments in battery technology research and investor sentiment shifts in the EV sector.

Recent updates highlight mixed signals for the solid-state battery developer. A technical report from industry analysts noted delays in commercialization timelines, citing ongoing challenges in scaling production yields. Meanwhile, regulatory filings revealed a strategic pivot toward partnerships with Asian manufacturers, though details remain undisclosed. These developments have intensified scrutiny over the company’s ability to meet long-term financial projections.

Market participants remain cautious as broader EV stock valuations face downward pressure. While QuantumScape’s core technology continues to attract interest, near-term execution risks—such as capital allocation efficiency and R&D cost overruns—have become focal points for short-term traders. Analyst commentary has emphasized the need for clearer milestones in 2026 to restore investor confidence.

To run this back-test accurately I need to clarify a few practical details that determine how we build the daily portfolio and measure its returns: 1. Universe • Which market(s) should the stock list come from – e.g. all U.S. listed equities, only the S&P 500 constituents, or another universe? 2. Trading price & execution assumptions • Do we buy the names at the same-day close and sell next-day close, or open-to-open, etc.? • Do we assume any slippage/transaction cost? 3. Weighting method • Equal-weight across the top-500 names each day, or volume-weighted, or something else? 4. Benchmark (if any) you’d like to compare against. Once we pin those down I’ll generate the daily selection rules, create the one-day-holding signals, and feed them into the strategy back-test engine for the 2022-to-present period.