Why Nio and QuantumScape Shares Soared, but Canoo Dropped This Week

It’s been a week of big gains so far for some electric vehicle (EV) stocks. The stocks of battery manufacturer QuantumScape (NYSE: QS) and Chinese EV maker Nio (NYSE: NIO) have been soaring. As of Thursday afternoon, QuantumScape and Nio shares were higher for the week by about 19% and 29%, respectively, according to data provided by S&P Global Market Intelligence.

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