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 story : Battery startup QuantumScape posts wider Q1 loss #FinanceUSA #StockMarketNEWS QuantumScape Corp. shares fell 4% in the extended session Tuesday after the battery-maker startup reported a wider-than-expected

@stockMarketNEWS Wed 12 May, 2021

Posted in: #FinanceUSA #StockMarketNEWS

Battery startup QuantumScape posts wider Q1 loss #FinanceUSA #StockMarketNEWS
QuantumScape Corp. shares fell 4% in the extended session Tuesday after the battery-maker startup reported a wider-than-expected quarterly loss for its first quarter. QuantumScape said it lost million in the quarter, or 20 cents a share, compared with a loss of 6 cents a share in the year-ago quarter. Analysts polled by FactSet had expected a loss of 7 cents a share for the quarter. In a letter to investors, the startup said it met a contractual milestone with Volkswagen AG and delivered battery cells for further testing at the car maker, an investor in the company, which resulted in an an additional 0 million into QuantumScape in April, it said. With proceeds from its follow-on equity offering, the Volkswagen investment, and public warrant exercises, it expects to enter 2022 "with greater than (.3 billion) in liquidity, reflecting a net increase of more than 0M compared to our liquidity entering the year," it said. Shares of QuantumScape ended the regular trading day up 3.6%.


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