Last week, QuantumScape began a public offering of 13 million Class A common shares. Offering usually have short term negative effects, but can be beneficial long term as a company can use the offerings revenue to grow.
“QuantumScape intends to use the proceeds from the offering to build a larger QS-0 pre-pilot line than recently announced; to cover its full share of equity contributions to its joint venture with Volkswagen for the previously disclosed 20-gigawatt-hour expansion of QS-1 joint manufacturing facility;" and for working capital and general purposes.
QS has been trading in a pretty easily recognizable channel between neckline, and support line. Support line also falls on the .786 fib level which makes it even stronger of a support. Can swing trade this play from support to resistance, or look to wait on a resistance break to then start a position for a swing trade. QS is also a company that can benefit from Biden's infrastructure plan, as they focus on building EV batteries, hydro batteries and research on these new technologies. Biden's plan involves 100s of billions to go towards researching these technology that could benefit QS.
“QuantumScape intends to use the proceeds from the offering to build a larger QS-0 pre-pilot line than recently announced; to cover its full share of equity contributions to its joint venture with Volkswagen for the previously disclosed 20-gigawatt-hour expansion of QS-1 joint manufacturing facility;" and for working capital and general purposes.
QS has been trading in a pretty easily recognizable channel between neckline, and support line. Support line also falls on the .786 fib level which makes it even stronger of a support. Can swing trade this play from support to resistance, or look to wait on a resistance break to then start a position for a swing trade. QS is also a company that can benefit from Biden's infrastructure plan, as they focus on building EV batteries, hydro batteries and research on these new technologies. Biden's plan involves 100s of billions to go towards researching these technology that could benefit QS.