QuantumScape Stock (NYSE:QS), Trade Ideas

QuantumScape

QuantumScape Corp is engaged in the development of next-generation solid-state lithium-metal batteries for use in electric vehicles. It developed an anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing.

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Corporate profit growth rose in Q3 2023 and is expected to continue in Q1.

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QuantumScape reported a fourth-quarter loss of 23 cents per share, which beat estimates for a loss of 43 cents per share, according to Benzinga Pro. The company  reported an adjusted EBITDA loss of $60.7 million in the fourth quarter. 

What&#39;s Going On With QuantumScape Stock Thursday?

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The U.S. stock market attempted a rebound following Tuesday&#39;s declines, sparked by a higher-than-expected inflation report in January, as investors refocused on corporate earnings. 



The Dow Jones Industrial Average ended Wednesday 0.4% higher at 38,424.27, while the S&amp;P 500 gained 0.96% to 5,000.62. The Nasdaq ended the day 1.3% higher at 15,859.15.

Bitcoin&#39;s $51K Move Puts Crypto Stocks Coinbase, Marathon, Riot Platforms On Investors&#39; Radars — QuantumScape, Tesla Also Trend

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<p>In the lead-up to the 2024 elections, <strong>EMILY&#8217;s List</strong>, a pro-abortion rights organization, has issued a warning to 14 potential Republican VP candidates for their hardline stance on abortion.</p>
<p><strong>What Happened</strong>: EMILY&#8217;s List is focusing on 14 Republicans who are believed to be on former President <strong>Donald Trump&#8217;s</strong> VP shortlist for his 2024 run. The group has previously used this strategy to target vulnerable House Republicans, especially in swing districts, by drawing attention to their abortion records, <a href="https://thehill.com/homenews/4616530-abortion-rights-group-knocks-possible-trump-vp-picks-extremism/">reported</a> The Hill.</p>
<p>In a press release, EMILY&#8217;s List declared, &#8220;Abortion is on the ballot this year like never before, so for the first time in EMILYs List history the 2024 ‘On Notice' list focuses on Trump's ‘Veepstakes' pool to send a clear message to voters.&#8221; The organization stressed that regardless of Trump&#8217;s VP choice, the GOP ticket poses a significant threat to reproductive rights in the U.S.</p>
<p><em>See Also: <a href="https://www.benzinga.com/news/24/04/38348277/trump-vs-biden-nationwide-poll-shows-key-issue-decidedly-tilts-equation-in-favor-of-one-candidate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump vs. Biden: Nationwide Poll Shows Key Issue Decidedly Tilts Equation In Favor Of One Candidate</a></em></p>
<p>EMILY&#8217;s List President <strong>Jessica Mackler</strong> reinforced this message, stating, &#8220;A Trump presidency will mean a national abortion ban is on the menu, and whichever extremist he picks as his running mate will not change that.&#8221; The group named 14 Republican individuals for its 2024 &#8220;On Notice&#8221; list, including <strong>Ben Carson</strong>, Rep. <strong>Byron Donalds</strong> (R-Fla.), Rep. <strong>Elise Stefanik</strong> (N.Y.), Sen. <strong>JD Vance</strong> (R-Ohio), and others.</p>
<p>The group also added a 15th mystery potential VP candidate to the list, stating that whoever Trump chooses, they will support his extreme anti-abortion agenda.</p>
<p><strong>Why It Matters</strong>: Abortion has emerged as a key issue for the 2024 election, with <a href="https://www.benzinga.com/general/politics/24/04/38213007/trumps-changing-stance-on-abortion-arizona-ruling-bring-2024-election-topic-front-and-center-how">Trump often taking credit</a> for the overturning of Roe v. Wade in 2022. </p>
<p>Since then, about a third of states have banned the procedure in almost all circumstances. Trump&#8217;s stance on abortion has been criticized as the <a href="https://www.benzinga.com/news/24/04/38153724/trump-has-taken-most-unfavorable-political-position-on-abortion-says-ex-bush-strategist">&#8220;worst possible political position&#8221;</a> by <strong>Matthew Dowd</strong>, a strategist for President <strong>George W. Bush</strong>. </p>
<p>Furthermore, former Secretary of State, <strong>Hillary Clinton</strong>, has <a href="https://www.benzinga.com/news/24/04/38038951/hillary-clinton-blasts-trump-for-appointing-judges-that-overturned-legal-abortion-were-witnessing-th">blamed Trump</a> for the fallout from the reversal of Roe v. Wade.</p>
<p><em>Read Next: <a href="https://www.benzinga.com/news/24/04/38356833/liz-cheney-says-trump-doing-everything-possible-to-postpone-jan-6-case-beyond-election-deep-flaws-in?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Liz Cheney Says Trump &#8216;Doing Everything Possible&#8217; To Postpone Jan. 6 Case Beyond Election: &#8216;Deep Flaws In Character…Make Him Unfit To Serve As President&#8217;</a></em></p>
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Trump VP Pool, Including A Mystery Candidate, Put On Notice By Anti-Abortion Group: 'GOP Ticket Poses A Significant Threat'

<p>A delegation from North Korea, led by the cabinet minister for international trade, is visiting Iran. This visit comes amid long-standing suspicions of covert military ties between the two nations.</p>
<p><strong>What Happened</strong>: <strong>Yun Jong Ho</strong>, the North Korean minister for external economic relations, led a delegation to Iran, departing from Pyongyang by air on Tuesday, according to a Reuters report on Wednesday. The North&#8217;s KCNA news agency did not provide additional details about the visit.</p>
<p>Both North Korea and Iran have been under scrutiny for potentially collaborating on ballistic missile programs, including the sharing of technical expertise and production components. In February, Reuters reported that Iran had supplied a significant number of ballistic missiles to Russia for use in its conflict with Ukraine.</p>
<p>North Korea is also suspected of supplying Russia with missiles and artillery, despite denials from both countries. Yun Jong Ho, who has previously worked on North Korea&#8217;s relations with Syria, has been actively involved in the country&#8217;s growing exchanges with Russia, leading a delegation to Moscow earlier this month.</p>
<p><em>See Also: <a href="https://www.benzinga.com/news/24/04/38368085/what-happens-if-trump-gets-convicted-will-he-go-to-prison-heres-how-it-likely-to-play-out?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What Happens If Trump Gets Convicted? Will He Go To Prison? — Here&#8217;s How It&#8217;s Likely To Play Out</a></em></p>
<p><strong>Why It Matters</strong>: This visit comes at a time of heightened tensions in the Middle East. Earlier this month, the <a href="https://www.benzinga.com/markets/asia/24/04/38316947/us-intensifies-economic-pressure-on-iran-in-response-to-attack-on-israel-we-will-continue-to-deploy">U.S. imposed new sanctions on Iran</a> following an unprecedented attack on Israel. Iran&#8217;s Unmanned Aerial Vehicle (UAV) capabilities, particularly the Shahed variant, were implicated in the attack.</p>
<p>Shortly after, <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38334504/israel-strikes-iranian-air-base-tehran-downplays-attack-as-blinken-calls-for-calm-oil-pric">Israel launched a targeted airstrike</a> near an Iranian military airbase in retaliation for an earlier attack. Despite this, Iran assured there would be no further retaliatory measures, stabilizing oil prices that had surged above $90 a barrel.</p>
<p>Amid these tensions, <a href="https://www.benzinga.com/news/24/04/38267600/amid-iran-israel-tensions-china-affirms-support-for-tehran-strengthens-ties">China affirmed its support for Iran</a>, signaling a continuation of strong bilateral ties. China&#8217;s top diplomat expressed readiness to work with Iran across various sectors, further complicating the geopolitical landscape.</p>
<p><em>Photo by Alexander Khitrov on Shutterstock</em></p>
<p><em>Read Next: <a href="https://www.benzinga.com/news/24/04/38348258/marjorie-taylor-greene-takes-step-back-in-effort-to-remove-speaker-mike-johnson-but-blasts-him-as-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Takes Step Back In Effort To Remove Speaker Mike Johnson But Blasts Him As &#8216;A Lame Duck&#8217;</a></em></p>
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        create comprehensive and timely stories for you.<br />
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Kim Jong Un's Minister Who Worked On North Korea's Syria Relations Visits Iran Amid Festering Middle-East Tensions

<p>The endorsement of Speaker <strong>Mike Johnson</strong> (R-La.) by former President <strong>Donald Trump</strong> has done little to deter conservative rebels from their mission to oust him. Despite Trump&#8217;s support, key figures like Rep. <strong>Marjorie Taylor Greene</strong> (R-Ga.) and Rep. <strong>Thomas Massie</strong> (R-Ky.) continue to voice their dissatisfaction.</p>
<p><strong>What Happened</strong>: Trump&#8217;s backing of Johnson was made public during a radio interview with <strong>John Fredericks</strong> on Monday. </p>
<p>The ex-president said, &#8220;It's not like he can go and do whatever he wants to do. I think he's a very good person,&#8221; Trump said following his time in court in New York on Monday. &#8220;I think he's trying very hard.&#8221;</p>
<p>However, this endorsement has not appeased those seeking Johnson&#8217;s removal. Greene, the originator of the current motion-to-vacate resolution, expressed her dissatisfaction on social media, stating, &#8220;Complete surrender is not acceptable and will not be tolerated.&#8221;</p>
<p>Similarly, Massie criticized Johnson again on Tuesday, insisting on no &#8220;complete &amp; total surrender.&#8221; He also expressed his disappointment with the current state of the U.S. House, calling it &#8220;downright embarrassing.&#8221;</p>
<p><em>See Also: <a href="https://www.benzinga.com/news/24/04/38357333/elon-musk-reacts-to-tucker-carlson-saying-theres-ton-of-evidence-that-aliens-live-among-us-with-6000?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Tucker Carlson Saying There&#8217;s &#8216;Ton Of Evidence&#8217; That Aliens Live Among Us: &#8216;With 6000 Satellites Orbiting Earth, I Think I Would Know&#8217;</a></em></p>
<p><strong>Why It Matters</strong>: This rebellion against Johnson follows his decision to advance a $95 billion foreign aid package, including $61 billion for Ukraine and regional partners. Greene had previously called for <a href="https://www.benzinga.com/news/24/04/38349699/marjorie-taylor-greene-says-mike-johnsons-speakership-is-over-after-house-passes-ukraine-aid-package">Johnson&#8217;s resignation</a> after the House passed the aid package, accusing him of betraying Republican voters. She threatened to initiate a vote for his removal if he didn't step down.</p>
<p>Trump had previously <a href="https://www.benzinga.com/news/24/04/38230714/trump-throws-support-behind-mike-johnson-amid-marjorie-taylor-greenes-ouster-threat-hes-doing-a-very">expressed his support</a> for Johnson during a press conference at Mar-a-Lago. Despite Trump&#8217;s efforts to quell the rift, Greene has <a href="https://www.benzinga.com/news/24/04/38237873/marjorie-taylor-greene-isnt-backing-down-on-criticism-of-house-speaker-despite-donald-trumps-efforts">remained unyielding</a> in her criticism of Johnson.</p>
<p><em>Read Next: <a href="https://www.benzinga.com/news/24/04/38348258/marjorie-taylor-greene-takes-step-back-in-effort-to-remove-speaker-mike-johnson-but-blasts-him-as-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Takes Step Back In Effort To Remove Speaker Mike Johnson But Blasts Him As &#8216;A Lame Duck&#8217;</a></em></p>
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Trump's Endorsement Fails To Quell Marjorie Taylor Greene's Conservative Rebellion Against Speaker Mike Johnson: 'Complete Surrender Is Not Acceptable'

<p>In the early stages of the hush money trial, <strong>Donald Trump&#8217;s</strong> defense lawyer, <strong>Todd Blanche</strong>, appears to be losing credibility with the presiding judge.</p>
<p><strong>What Happened</strong>: Judge <strong>Juan Merchan</strong> expressed skepticism during a hearing on Tuesday, April 23, when Blanche suggested that Trump was making efforts to adhere to a court-ordered gag order. The judge reportedly told Blanche, &#8220;You&#8217;re losing all credibility,&#8221; <a href="https://www.msnbc.com/deadline-white-house/deadline-legal-blog/trump-gag-order-trial-judge-merchan-todd-blanche-rcna148977">reported</a> MSNBC.</p>
<p>Merchan&#8217;s dissatisfaction arose from Blanche&#8217;s inability to respond to his inquiries during the hearing. The judge did not immediately decide whether Trump&#8217;s remarks against witnesses and jurors contravened his order. Following the hearing, the trial&#8217;s first witness, <strong>David Pecker</strong>, returned to the stand for direct examination by the prosecution.</p>
<p><em>See Also: <a href="https://www.benzinga.com/news/24/04/38368085/what-happens-if-trump-gets-convicted-will-he-go-to-prison-heres-how-it-likely-to-play-out?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What Happens If Trump Gets Convicted? Will He Go To Prison? — Here&#8217;s How It&#8217;s Likely To Play Out</a></em></p>
<p>The diminishing credibility of Trump&#8217;s lawyer could have significant implications for the trial. Judges&#8217; daily decisions on matters such as witnesses, evidence, and scheduling can greatly influence a case, particularly if the jury perceives a judge&#8217;s dissatisfaction with a lawyer, according to the report.</p>
<p><strong>Why It Matters</strong>: The trial, which began on Monday, is <a href="https://www.benzinga.com/general/politics/24/04/38366379/trump-committed-conspiracy-to-undermine-the-integrity-of-a-presidential-election-prosecution-all">centered on allegations</a> that Trump committed a &#8216;conspiracy to undermine the integrity of a presidential election.&#8217; Pecker, former National Enquirer publisher, was a key witness, testifying about his role in <a href="https://www.benzinga.com/general/politics/24/04/38392485/david-pecker-testifies-to-national-enquirer-buying-stories-that-could-damage-donald-trump-potent">purchasing and suppressing stories</a> to benefit Trump during the 2016 presidential campaign.</p>
<p>Moreover, Trump has been accused of <a href="https://www.benzinga.com/news/24/04/38368871/trump-allegedly-violated-gag-order-10-times-will-hush-money-judge-show-leniency-on-contempt-charges">violating a gag order multiple times</a>, leading to the hearing where Blanche&#8217;s credibility was questioned. If found in violation, Trump could face penalties ranging from a warning to a fine or even a short jail term.</p>
<p><em>Photo Courtesy: Shutterstock.com</em></p>
<p><em>Read Next: <a href="https://www.benzinga.com/news/24/04/38351863/marjorie-taylor-greene-insists-motion-to-vacate-mike-johnsons-speakership-is-inevitable-do-the-right?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Insists &#8216;Motion To Vacate&#8217; Mike Johnson&#8217;s Speakership Is Inevitable</a></em></p>
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        extensive Benzinga Ecosystem, including native data, APIs, and more to<br />
        create comprehensive and timely stories for you.<br />
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Trump Hush Money To Ex-President's Lawyer: 'You're Losing All Credibility'

CDTX

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

<p>Well-known investor <strong>Chamath Palihapitiya</strong> recently shared the one question he asks potential job candidates he interviews in hopes to filter <a href="https://www.benzinga.com/news/23/12/36401990/5-simple-ways-to-sell-yourself-and-stand-out-in-a-job-interview">out potential applicants.</a></p>
<p><strong>The One Question: </strong>Palihapitiya said he has interviewed thousands of people between the companies he has run and <a href="https://www.benzinga.com/topic/chamath-palihapitiya">companies he has invested in</a>.</p>
<p>When searching for potential job applicants, Palihapitiya said he has a go-to method for finding the right candidates.</p>
<p>"There's one question that I always go to that I think is the most predictive of your ability to contribute in a company," Palihapitiya <a href="https://twitter.com/theallinpod/status/1782503638406996456?t=muzOeaiDlMS0zQyJSY04vA&amp;s=19">said</a>.</p>
<p>The investor said that he tells a candidate to take a few minutes to think about something they are an expert on and then explain it to him in around two minutes.</p>
<p><em>Related Link: <a href="https://www.benzinga.com/top-stories/23/12/36203650/dont-ask-this-question-in-a-job-interview-you-kill-your-chances-of-getting-hired">Don&#8217;t Ask This Question In A Job Interview, You Kill Your Chances Of Getting Hired</a></em></p>
<p><strong>Why It's Important</strong>: Palihapitiya said the question helps find out if the candidate has a clear mind, can simplify topics and can communicate properly to another person.</p>
<p>Palihapitiya said the ability to communicate and get someone else on the same page as you can be determined with the question.</p>
<p>"And that's a very powerful skill inside a company," Palihapitiya said.</p>
<p>The question also shows that people can "focus deeply on one goal."</p>
<p>The investor also said the question can help get rid of people who are coached or trained on how to ace an interview or can be too robotic in nature.</p>
<p>"That's a huge filter."</p>
<p><em>Read Next: <a href="https://www.benzinga.com/news/24/03/37562830/how-to-ace-the-most-important-job-interview-question-of-all-time">How To Ace The Most Important Job Interview Question Of All Time</a></em></p>
<p><em>Photo: Featureflash Photo Agency on Shutterstock</em></p>


Education

Chamath Palihapitiya Has One Key Question He Asks In Interviews: 'Very Powerful Skill Inside A Company'

<p>Latin music revenue in the U.S. hit a new high in 2023, reaching $1.4 billion, marking a significant 16% growth from the <a href="https://www.benzinga.com/topic/business-of-music">previous year. </a></p>
<p>The Recording Industry Association of America (RIAA) reported Latin music&#8217;s market share in the overall U.S. music market also climbed to 7.9%, a new peak, Variety<a href="https://variety.com/2024/music/news/latin-music-us-revenue-fastest-growing-us-market-1235978539/"> reported.</a></p>
<p><em>See Also: <a href="https://www.benzinga.com/general/entertainment/24/04/38362990/taylor-swifts-the-tortured-poets-department-hits-1-6m-us-sales-sets-spotify-on-fire-with-ov">Taylor Swift&#8217;s &#8216;The Tortured Poets Department&#8217; Hits 1.6M US Sales, Sets Spotify On Fire With Over 300M Streams</a></em></p>
<p>In dialogue with the magazine, RIAA&#8217;s <strong>Rafael Fernandez Jr</strong>. attributed this surge to the genre&#8217;s increasing popularity among a new generation of stars and the widespread availability of streaming platforms.</p>
<p>&#8220;Latin music has exploded in the U.S. over the last decade as a new generation of stars boosts the genre and streaming puts this dynamic sector at everyone's fingertips,&#8221; Fernández said. </p>
<p>The rise of artists like Karol G and Peso Pluma played a key role in this growth. Karol G made history by becoming the first Latina woman to top the Billboard 200 with an all-Spanish-language album, &#8220;Mañana Será Bonito,&#8221; in February 2023. </p>
<p>Meanwhile, Peso Pluma also made waves by claiming the highest-charting música Mexicana album on the Billboard 200 with &#8220;Genesis,&#8221; peaking at No. 3.</p>
<p>Furthermore, streaming platforms continued to dominate the listening experience for Latin music fans, generating over 98% of Latin music revenues. Paid subscriptions contributed the most to total revenues. </p>
<p>However, platforms such as <strong>Alphabet Inc</strong>&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) YouTube, <strong>Universal Music Group&#8217;</strong>s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UMGNF#OTC">UMGNF</a>) Vevo, and social media also played a significant role, accounting for nearly a quarter of the Latin market&#8217;s total value.</p>
<p>Despite the shift to digital platforms, digital and customized radio services, along with <a href="https://www.benzinga.com/general/entertainment/23/03/31180475/vinyl-sales-in-the-uk-surpassed-cds-for-the-first-time-since-1987-what-does-this-mean">physical formats like vinyl albums</a>, still held a notable share of the market. </p>
<p>"It's incredible to see the impact this genre is having on the overall U.S. market and the role streaming continues to play in helping fans connect as they discover new styles, artists and sounds,&#8221;<strong> Matthew Bass,</strong> RIAA vice president of research and gold and platinum operations said. </p>
<p>&#8220;And just as we've seen vinyl surge in the overall market, Latin music has plenty of space to expand even deeper into this traditional format with new highs undoubtedly yet to come,&#8221; he added.</p>
<p><em>Read Next: <a href="https://www.benzinga.com/general/entertainment/23/03/31229667/5-most-popular-latinx-artists-in-the-us-right-now-bad-bunny-karol-g-farruko-and-more">5 Most Popular Latinx Artists In The US Right Now: Bad Bunny, Karol G, Farruko And More</a></em></p>
<p><em>Photo: Karol G via Shutterstock</em></p>


Entertainment

GOOG

UMGNF

Karol G, Peso Pluma Propel US Latin Music Revenue To New Heights, Reaches $1.4B

<p>Rush Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUSHA#NASDAQ">RUSHA</a>) reported quarterly earnings of $0.88 per share which beat the analyst consensus estimate of $0.77 by 14.29 percent. This is a 17.76 percent decrease over earnings of $1.07 per share from the same period last year.  The company reported quarterly sales of $1.872 billion which met the analyst consensus estimate.  This is a 2.09 percent decrease over sales of $1.912 billion the same period last year.</p>


Earnings

Earnings Beats

RUSHA

Rush Enterprises Q1 2024 GAAP EPS $0.88 Beats $0.77 Estimate, Sales $1.872B Inline

<p>Rush Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUSHB#NASDAQ">RUSHB</a>) reported quarterly earnings of $0.88 per share which beat the analyst consensus estimate of $0.82 by 7.32 percent.  The company reported quarterly sales of $1.872 billion which missed the analyst consensus estimate of $1.882 billion by 0.53 percent.  This is a 2.09 percent decrease over sales of $1.912 billion the same period last year.</p>


Earnings Misses

RUSHB

Rush Enterprises Q1 2024 GAAP EPS $0.88 Beats $0.82 Estimate, Sales $1.872B Miss $1.882B Estimate

Guidance

Tesla CEO Musk Says Thinks They Will Have Higher Sales This Year Than Last Year

Tesla CEO Musk Says Company Constitutes Majority Of His Work Time

<h1 class="wp-block-heading"><strong>Top Stories for April 23, 2024:</strong></h1>
<ol>
<li><strong>Cleveland-Cliffs</strong> <strong>Inc </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) reported <a href="https://www.benzinga.com/wiim/24/04/38378385/cleveland-cliffs-shares-are-trading-lower-after-the-companys-reported-worse-than-expected-q1-financi">first-quarter results</a>, including revenue of $5.2 billion, a net loss of $53 million and adjusted net income of $87 million. </li>
</ol>
<p>Adjusted EBITDA reached $414 million, marking a significant year-over-year and quarter-over-quarter improvement.</p>
<p>The company announced the completion of a previous $1 billion share repurchase program, having bought back 30.4 million shares. It also introduced a new $1.5 billion share buyback initiative.&nbsp;</p>
<p>Steel shipments totaled 3.9 million net tons and the firm retired all remaining secured notes to enhance its liquidity position, which stood at $4 billion at the end of March 2024.</p>
<ol start="2">
<li><strong>Freeport-McMoRan</strong> <strong>Inc</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) reported strong first-quarter 2024 results with copper sales and unit net cash costs surpassing estimates from January 2024 and the first quarter of 2023. </li>
</ol>
<p>Net income reached $473 million, with consolidated sales of 1.1 billion pounds of copper, 568 thousand ounces of gold and 20 million pounds of molybdenum.&nbsp;</p>
<p>Indonesia smelter projects are close to completion and expected to start in the second quarter of 2024. </p>
<p>The company&#8217;s operating cash flows totaled $1.9 billion and capital expenditures were $1.3 billion for the quarter.&nbsp;</p>
<p><strong>Kathleen L. Quirk</strong> will become CEO on June 11, 2024, succeeding <strong>Richard C. Adkerson</strong>.</p>
<p><em>Also Read:</em><a href="https://www.benzinga.com/topic/mining"><em> </em></a><a href="https://www.benzinga.com/news/large-cap/24/04/38364875/geopolitical-relief-triggers-gold-selloff-prices-dip-below-2-350-mark-mining-stocks-hit-hard"><em>Geopolitical Relief Triggers Gold Selloff: Prices Dip Below $2,350 Mark, Mining Stocks Hit Hard</em></a></p>
<ol start="3">
<li><strong>Worthington Steel</strong> <strong>Inc</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WS#NYSE">WS</a>) was honored as a <strong>General Motors</strong> <strong>Co</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) Supplier of the Year for the third time, previously winning in 2020 and 2021. </li>
</ol>
<p>GM recognized 86 suppliers for their 2023 performance, emphasizing three core values: safety, inclusion and relationships. The award celebrates suppliers who contribute to GM's goals of innovation and high-quality vehicle production.&nbsp;</p>
<p>Worthington Steel provides flat-roll carbon steel coils used in GM&#8217;s vehicle production across facilities in Indiana, Michigan, Ohio and Mexico.</p>
<ol start="4">
<li><strong>Metals Acquisition Ltd</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTAL#NYSE">MTAL</a>) released its Resource and Reserve Statement and three-year production guidance for the CSA Copper Mine, highlighting significant growth in resources and mine life. </li>
</ol>
<p>Key updates include an extended mine life of 11 years up to 2034, a 67% increase from last year, and a 64% increase in contained copper to 0.5 million tons.&nbsp;</p>
<p>The measured and indicated mineral resources have risen to 229,000 tons of copper, with an additional 184,000 tons classified as inferred.&nbsp;</p>
<p>These enhancements occurred just 10 months post-acquisition, with continued drilling aimed at further expanding resources.</p>
<p><em>Now Read:</em><a href="https://www.benzinga.com/"><em> </em></a><a href="https://www.benzinga.com/m-a/24/04/38380999/exclusive-why-this-uranium-bull-market-is-different-weve-really-got-to-start-developing-mines-says-m"><em>EXCLUSIVE: Why This Uranium Bull Market Is Different — &#8216;We&#8217;ve Really Got To Start Developing Mines,&#8217; Says Madison Metals CEO</em></a></p>
<p><strong><em>Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!</em></strong></p>
<p><em>Photo: Shutterstock</em></p>


Commodities

MTAL

Cleveland-Cliffs, Freeport-McMoRan Report Q1 Results; Worthington Steel Gets GM Supplier Of The Year And More: Tuesday's Top Mining Stories

Tesla CEO Musk Says In Conversations With One Major Automaker Regarding Licensing FSD

WIIM

CSGP

CoStar Group shares are trading higher after the company reported better-than-expected Q1 financial results.

<p>Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) reported quarterly earnings of $0.14 per share which met the analyst consensus estimate. This is a 133.33 percent increase over earnings of $0.06 per share from the same period last year.  The company reported quarterly sales of $45.481 million which missed the analyst consensus estimate of $48.286 million by 5.81 percent.  This is a 12.82 percent decrease over sales of $52.170 million the same period last year.</p>


FFIC

Flushing Financial Q1 2024 GAAP EPS $0.14, Inline, Sales $45.481M Miss $48.286M Estimate

Tesla CEO Musk Says May Be Able To Sell Optimus By End Of Next Year

Tesla CEO Musk Says Tesla Will Have 85,000 Nvidia H100 GPUS Training AI By End Of Year

<p><a href="https://www.sec.gov/Archives/edgar/data/1620704/000147793224002292/medx_rw.htm" title="https://www.sec.gov/Archives/edgar/data/1620704/000147793224002292/medx_rw.htm">https://www.sec.gov/Archives/edgar/data/1620704/000147793224002292/medx_rw.htm</a></p>


IPOs

Med-X Withdraws IPO Plan; Elects Not To Pursue Sale Of Securities At This Time - Filing

<p>A substantial slowdown in the shipping business caused <strong>United Parcel Service, Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) <a href="https://www.benzinga.com/news/earnings/24/04/38376943/ups-delivers-mixed-bag-of-q1-results-maintains-guidance-despite-lower-volumes">to deliver lackluster first-quarter results on Tuesday</a>.</p>
<p>When compared to the same period last year, revenue declined 5.3% and operating profit was down 31.5% when adjusting for inflation.&nbsp;</p>
<p>The large drop in operating profit stems from <a href="https://www.benzinga.com/news/large-cap/23/08/33995076/ups-and-teamsters-seal-the-deal-ensures-170-000-per-year-for-drivers-the-next-5-years">recent salary negotiations between UPS and the Teamsters</a>, the labor union that represents the company's employees.&nbsp;</p>
<p>The historic wage negotiation closed last August and hit the UPS balance sheet by guaranteeing a $170,000 salary for delivery truck drivers over the next five years. Negotiations affect 340,000 UPS teamsters with higher wages and overall better working conditions, <a href="https://www.benzinga.com/news/23/08/34101423/drop-off-your-old-gig-pick-up-this-pay-package-ups-drivers-make-170k-under-new-deal">making the $170k salary the new average for UPS employees</a>.</p>
<p>Nonetheless, shares of the company were up by 2.4% as Tuesday progressed, as quarterly profit beat analyst expectations, although they were on the decline for five consecutive quarters.</p>
<p>The company is boasting several positive news from recent times, including <a href="https://www.benzinga.com/news/24/04/38086914/postal-services-air-cargo-shift-to-ups-makes-everyone-a-winner">a new contract with the United States Postal Service (USPS) to provide air cargo services</a>.</p>
<p>The USPS dropped <strong>FedEx Corp </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) earlier this month as its main domestic air carrier, deciding not to renew a contract worth $1.5 billion, and choosing UPS instead. The new contract will go on at least for five-and-a-half years and have UPS as the primary contractor for the USPS' first-class mail, priority mail and priority express mail.</p>
<p><em>Read also: </em><a href="https://www.benzinga.com//node/38029989"><em>UPS Vs. FedEx: Which Stock Boasts A Higher Upside? Here&#8217;s What Analysts Say</em></a></p>
<p>The shift was considered a win-win for both competitors, as FedEx is looking to reduce its operations and take out $4 billion in structural costs by the end of fiscal year 2025.</p>
<p>On its previous quarterly call, UPS CEO<strong> Carol Tomé</strong> called 2023 "a difficult and disappointing year." The company experienced declines in volume, revenue, and operating profit in all three of its business segments, <a href="https://www.benzinga.com/news/earnings/24/01/36866048/these-analysts-cut-their-forecasts-on-ups-following-q4-results">causing analysts to cut their forecasts</a>.</p>
<p>Tomé blamed the macro environment, as well as the new employee deal as reasons behind recent drops in revenue.</p>
<p>This time, the executive showcased a more hopeful attitude. While average daily volume continued to decline, the rate of decline was slower in the first quarter both domestically and internationally.</p>
<p>To compensate for the decline in volume, the company announced earlier this year <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/01/36849715/ups-slashes-12-000-jobs-in-cost-cutting-move-shares-plunge">plans to shed 12,000 positions, representing about 14% of its managerial workforce</a>, potentially saving the company $1 billion in 2024.</p>
<p>Tomé is expecting the USPS deal to bring in at least part of the revenue the company needs to compensate for losses in volume. The CEO said the deal will contribute to top-line growth, fitting "beautifully with our strategy to grow our B2B business."</p>
<p><em>Now Read: </em><a href="https://www.benzinga.com//node/38223600"><em>Retail Resilience: Wayfair, Lowe&#8217;s, Best Buy — JPMorgan&#8217;s Top Stock Picks</em></a></p>
<p><em>Photo: Shutterstock</em></p>


UPS Earnings Show The Weight Of $170,000 Salaries While It Learns To Navigate Shipping Slump

Tesla Says It Expect New Model Production To Start Early 2025 If Not Late This Year

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>The electric vehicle industry is going through challenging times. The concerns for the industry include competition and macroeconomic headwinds. As a result, global automakers are <a href="https://www.cnbc.com/2024/03/13/ev-euphoria-is-dead-automakers-trumpet-consumer-choice-in-us.html">scaling back on their EV investment plans</a>. From a price action perspective, <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a> have trended lower and there are multiple undervalued stories. In my view, it&rsquo;s a good time to buy for investors with a long-term horizon. This column specifically focuses on undervalued <a href="https://investorplace.com/industries/energy/renewable-energy/battery/">battery stocks</a> to buy before the next rally. This has led to these 7 battery stocks to buy before the next big rally.</p>



<p>It&rsquo;s worth noting that in 2022, EVs <a href="https://www.iea.org/reports/global-ev-outlook-2023/executive-summary">accounted for only 14%</a> of new cars sold. There is ample scope for industry growth with policy tailwinds. It&rsquo;s estimated that by 2030, more than <a href="https://www.iea.org/reports/by-2030-evs-represent-more-than-60-of-vehicles-sold-globally-and-require-an-adequate-surge-in-chargers-installed-in-buildings">60% of new cars sold will be EVs</a>. This will translate into significant demand for batteries.</p>



<p>To put things into perspective, the global demand for Li-ion battery is expected to increase from 700 GWh in 2022 to <a href="https://ians.in/pr-wire-detail/lithium-ion-battery-demand-soars-projected-to-reach-47-twh-by-2030-a-shift-toward-green-energy-and-electric-mobility-10-11-2023">approximately 4.7 TWh by 2030</a>. This will provide ample headroom for growth for some of the best battery players.</p>



<p>Let&rsquo;s talk about 7 battery stocks to buy before the next big rally.</p>



<h2>Panasonic Holdings (PCRFY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/solid-state-battery-qs1600-300x169.png" alt="Solid-state battery pack design for electric vehicle (EV) concept, new research and development batteries with solid electrolyte energy storage for future car industry, 3d Illustration. forever battery"><div>Source: JLStock / Shutterstock.com</div></div><p>With the broad EV sector being depressed, <strong>Panasonic Holdings</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/pcrfy-stock-quote/"><strong>PCRFY</strong></a></span>) stock has done well. In the last 12 months, the stock has total returns of over 10%. It&rsquo;s worth noting that PCRFY stock trades at a forward price-earnings ratio of 7.3. I would bet on the stock doubling within the next 24 months. At the same time, the blue-chip EV battery stock is worth holding until 2030.</p>



<p>On the innovation front, Panasonic is working on batteries with a <a href="https://www.wired.com/story/panasonic-powder-powered-silicone-ev-batteries/">silicon-based technology</a>. This can give electric cars a 500-mile range and charge refills in 10 minutes. The Company is also working on <a href="https://asia.nikkei.com/Business/Technology/Panasonic-to-produce-solid-state-battery-for-drones-by-2029">solid-state batteries for drones</a> and factory robots. This can open-up another big addressable market and boost long term growth. It&rsquo;s one of the 7 battery stocks to buy before the next big rally.</p>



<p>Besides the innovation factor, Panasonic has ambitious EV battery capacity expansion plans. The Company plans to <a href="https://www.reuters.com/business/autos-transportation/panasonic-needs-four-more-ev-battery-plants-meet-capacity-target-executive-says-2023-07-03/">boost capacity</a> to 200GWh by 2031. This would imply quadrupling of capacity as compared to the last financial year. The expansion plan provides revenue growth visibility in addition to potential <a href="https://www.panasonic.com/global/energy/company/strategy/2023.html">EBITDA margin expansion</a> in the coming years.</p>



<h2>QuantumScape (QS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/lithium-1600-300x169.png" alt="Lithium element on the periodic table. Top-rated lithium stocks"><div>Source: tunasalmon / Shutterstock</div></div><p><strong>QuantumScape</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/qs-stock-quote/"><strong>QS</strong></a></span>) is a development stage company with focus on commercialization of solid-state batteries. With more than a decade of focus on research and development, the Company has <a href="https://s29.q4cdn.com/884415011/files/doc_presentation/2024/03/19/QS-IR-Presentation-March-24.pdf">300 patents or patent applications</a>. QuantumScape also claims to have agreements with six automotive OEMs.</p>



<p>Once the solid-state battery is commercialized, there is a strong platform for growth. I must add here that <strong>Volkswagen</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/vwagy-stock-quote/"><strong>VWAGY</strong></a></span>) is a strategic investor and joint venture partner in the Company. This adds to the credibility and makes QS stock an attractive investment after a deep correction in the last few years.</p>



<p>In a major business development, the Company <a href="https://ir.quantumscape.com/resources/press-releases/news-details/2024/QuantumScape-Begins-Customer-Shipments-of-Alpha-2-Prototypes-a-Key-Goal-for-2024/default.aspx">recently shipped Alpha-2 prototype</a> battery cells to automotive partners. This is a significant step towards the roadmap to deliver QSE-5 (first commercial product). With the Company targeting high-volume production of its solid-state electrolyte-separator in 2025, it&rsquo;s not long before QS stock surges. This make it one of those 7 battery stocks to buy before the next big rally.</p>



<h2>Solid Power (SLDP)</h2>



<a href="https://investorplace.com/wp-content/uploads/2023/02/shutterstock_1048927511-scaled-e1677265445318.jpg"><img width="300" height="188" src="https://investorplace.com/wp-content/uploads/2023/02/shutterstock_1048927511-scaled-e1677265445318-300x188.jpg" alt="Energy Storage. battery stocks"></a><p>After a deep correction, <strong>Solid Power</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/sldp-stock-quote/"><strong>SLDP</strong></a></span>) stock has stabilized and remained sideways in the last six months. I believe that the worst is over for the stock and with positive business progress, I expect a big rally in the coming quarters.</p>



<p>As an overview, Solid Power is working towards the commercialization of solid-state batteries. The Company&rsquo;s efforts are backed by automotive partners that include <strong>Ford</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/f-stock-quote/"><strong>F</strong></a></span>) and <strong>BMW</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/bmwyy-stock-quote/"><strong>BMWYY</strong></a></span>). Recently, the Company also <a href="https://www.solidpowerbattery.com/investor-relations/investor-news/news-details/2024/Solid-Power-and-SK-On-Deepen-Partnership-with-New-Agreements/default.aspx">deepened its partnership</a> with <strong>SK On</strong>. This will help in expansion in the Korean market.</p>



<p>Last year, Solid Power successfully delivered A-1 sample cells to automotive partners October 2023 for validation testing. This year, the <a href="https://www.solidpowerbattery.com/investor-relations/investor-news/news-details/2024/Solid-Power-Full-Year-2023-Results-Reflect-Strong-Execution/default.aspx">focus is shifted to A-2 sample cells</a> that are likely to be better in terms of safety and performance.</p>



<p>I also like the fact that Solid Power has been using its cash buffer conservatively. With $415 million in liquidity, there is ample flexibility to invest in research and development.</p>



<h2>Lithium Americas (LAC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/lithium1600-300x169.jpg" alt="lithium (LI) on the periodic table. top performing lithium stocks"><div>Source: Shutterstock</div></div><p><strong>Lithium Americas</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/lac-stock-quote/"><strong>LAC</strong></a></span>) stock has advanced by 45% in the last one month. The reason being a <a href="https://lithiumamericas.com/news/news-details/2024/Lithium-Americas-Receives-Conditional-Commitment-for-2.26-Billion-ATVM-Loan-from-the-U.S.-DOE-for-Construction-of-Thacker-Pass/default.aspx">funding commitment</a> of $2.26 billion from the U.S. Department of Energy for the Thacker Pass project. I believe that the positive momentum for LAC stock is likely to sustain as the growth story remains undervalued.</p>



<p>It&rsquo;s worth noting that the Thacker Pass asset will <a href="https://lithiumamericas.com/news/news-details/2024/Lithium-Americas-Provides-a-Thacker-Pass-Construction-Plan-Update/default.aspx">commence production in 2027</a>. However, the market valuation of the Company is significantly lower as compared to the <a href="https://lithiumamericas.com/files/doc_presentation/2024/03/LAC-Corporate-Presentation.pdf">after-tax net present value</a> of $5.7 billion. Over the next few years, the valuation gap is likely to be closed.</p>



<p>I must add that once the asset commences production, the average annual EBITDA visibility is $1.1 billion. This implies healthy cash flows over the long term with the asset life estimated at 40 years. The weakness in lithium price is therefore a golden opportunity to accumulate LAC stock.</p>



<h2>Piedmont Lithium (PLL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div><p><strong>Piedmont Lithium</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/pll-stock-quote/"><strong>PLL</strong></a></span>) is another massively undervalued lithium stock to buy. In the last 12 months, PLL stock has plunged by 75%. The correction is overdone and with a quality asset base, I expect multibagger returns from current levels. It&rsquo;s a matter of holding the stock with patience through the lithium bear market.</p>



<p>Straight to valuations, Piedmont currently commands a market valuation of $252 million. This is miniscule as compared to the present value of the Company&rsquo;s key assets. To put things into perspective, the Company&rsquo;s Ghana asset has an after-tax NPV of $1.33 billion. Further, the Carolina and Tennessee asset have a <a href="https://piedmontlithium.com/wp-content/uploads/Piedmont-Lithium-Corporate-Presentation_February-2024.pdf">combined after-tax NPV</a> of $4.5 billion.</p>



<p>Of course, these assets require financing and that&rsquo;s the key catalyst for PLL stock. The Company is looking for strategic partners for its U.S. assets. Once financing is secured for construction, I expect valuations to skyrocket. An important point to note is that Piedmont already has supply agreements with the likes of LG Chem and <strong>Tesla</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a></span>). Extended offtake agreements can provide clear cash flow visibility. This makes it one of those 7 battery stocks to buy before the next big rally.</p>



<h2>Ford (F)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/shutterstock_636632101-300x169.jpg" alt="Used car market: a row of cars of different makes and models sitting on a lot."><div>Source: Mikbiz / Shutterstock</div></div><p>Among the traditional car companies, <strong>Ford</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/f-stock-quote/"><strong>F</strong></a></span>) has ambitious plans for transition towards a portfolio of EVs. The Company&rsquo;s investment plans include setting-up EV battery plans. Before discussing that, it&rsquo;s worth noting that F stock trades at a forward price-earnings ratio of 7.4. Further, the stock offers an attractive dividend yield of 4.4%. The blue-chip stock is worth accumulating at the current valuation gap.</p>



<p>In May 2021, Ford and SK On announced a joint venture to &ldquo;produce approximately 60 GWh annually in traction battery cells and array modules.&rdquo; It&rsquo;s worth noting that Ford&rsquo;s &ldquo;<a href="https://corporate.ford.com/articles/electrification/ford-commits-to-manufacturing-batteries.html">global BEV plan</a> calls for at least 240 gigawatt hours (GWh) of battery cell capacity by 2030.&rdquo;</p>



<p>Therefore, there is ample scope for growth in the next five years. It&rsquo;s worth noting that in November 2023, Ford <a href="https://www.cnbc.com/2023/11/21/ford-scales-back-ev-battery-plant-in-michigan.html">scaled back plans</a> for a $3.5 billion battery plant in Michigan. It does not come as a surprise with the recent slowdown in EV sales. However, Ford has ample financial flexibility to aggressively invest in multiple plans once growth gains traction.</p>



<h2>Standard Lithium (SLI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/lithium1600-1-300x169.jpg" alt="a group of batteries"><div>Source: Shutterstock</div></div><p>Let&rsquo;s end the discussion on battery companies with a massively undervalued penny stock. <strong>Standard Lithium</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/sli-stock-quote/"><strong>SLI</strong></a></span>) stock has plunged by almost 70% in the last 12 months and is worth considering at current levels. In my view, SLI stock is likely to deliver 10x to 20x returns by 2030.</p>



<p>To put things into perspective, Standard Lithium commands a current market valuation of $210 million. In comparison, the Company&rsquo;s key asset has an <a href="https://d1io3yog0oux5.cloudfront.net/_e78c66e58d8d6ed60f616b7a71b68acc/standardlithium/db/314/2108/pdf/Nov+6%2C+2023+Corp+Presentation+RFS.pdf">after-tax net present value</a> of $4.5 billion. If other assets are included, the after-tax NPV is likely to be more than $5 billion.</p>



<p>I believe that there are two impending catalysts for a massive rally. First, if lithium trends higher, sentiments will reverse for <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks</a>. Further, Standard Lithium needs financing of $1.2 billion for its key asset (South West Arkansas). Once the financing is secured, SLI stock is likely to go ballistic. It&rsquo;s one of the 7 battery stocks to buy before the next big rally.</p>



<p><em>On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"><em>Publishing Guidelines.</em></a></p>
<div><p>Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/7-battery-stocks-to-buy-before-the-next-big-rally/">7 Battery Stocks to Buy Before the Next Big Rally</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

7 Battery Stocks to Buy Before the Next Big Rally

QuantumScape May Need A Buyout To Stay Viable

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p><a href="https://investorplace.com/industries/energy/renewable-energy/battery/">Battery stocks</a> may not be one of the most exciting opportunities. But with the world fighting to go green, demand is only expected to rise for these top battery stocks to buy.</p>



<p>Remember,&nbsp;batteries are essential for renewable energy.&nbsp;<a href="https://energy5.com/understanding-the-role-of-battery-storage-in-the-renewable-energy-transition#:~:text=By%20storing%20excess%20energy%20during,to%20grid%20stability%20and%20resilience.">As noted by Energy5.com</a>,<strong>&nbsp;&ldquo;</strong>By storing excess energy during periods of high production, battery storage systems enable a consistent and reliable supply of electricity, even when the sun isn&rsquo;t shining or the wind isn&rsquo;t blowing. This not only improves the overall efficiency of renewable energy but also contributes to grid stability and resilience.&rdquo;</p>



<p>We also have to consider the global battery market could be worth about $322.2 billion by 2030 from $112.9 billion in 2022,&nbsp;<a href="https://www.globenewswire.com/news-release/2023/05/25/2676319/0/en/Global-Battery-Market-to-Reach-322-2-Billion-by-2030.html">according to ResearchandMarkets</a>. In addition, the U.S. Department of Energy (DOE) announced&nbsp;<a href="https://www.recyclingtoday.com/news/doe-announces-30-million-in-electric-vehicle-battery-funding/">$30 million in funding</a>&nbsp;to support the creation of an electric vehicle battery supply chain. It also announced&nbsp;<a href="https://www.energy.gov/articles/biden-harris-administration-announces-35-billion-strengthen-domestic-battery-manufacturing#:~:text=WASHINGTON%2C%20D.C.%20%E2%80%94%20Today%2C%20two,batteries%20and%20battery%20materials%20nationwide.">$3.5 billion in funding for battery manufacturing</a>. All of which should help fuel further upside for battery stocks to buy, such as:</p>



<h2><strong>QuantumScape (QS)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/11/qs1600-1-300x169.png" alt="QuantumScape (QS) is an American company that develops solid state lithium metal batteries for electric cars."><div>Source: JHVEPhoto / Shutterstock.com</div></div><p>Keep an eye on beaten-down shares of&nbsp;battery stocks to buy, such as <strong>QuantumScape</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>). After diving to a recent low of $5.54, QS is now at $6.13 and is slowly trending higher.</p>



<p>Helping,&nbsp;<a href="https://www.streetinsider.com/news.php?id=22785221&amp;classic=1">analysts at Baird raised their price target to $8 with a neutral rating</a>. They believe that new CEO Dr. Siva Sivaram could help the company achieve commercial scale production.&nbsp;</p>



<p>Even better, the company just starting shipping its Alpha-2 prototype battery cells. These,&nbsp;<a href="https://www.quantumscape.com/quantumscape-appoints-dr-siva-sivaram-as-ceo-to-lead-next-phase-of-growth-2/#:~:text=Alpha%2D2%20prototypes%20are%20a,shipping%20A0%20prototypes%20to%20customers.">according to Sivaram</a>&nbsp;are a &ldquo;significant milestone on the roadmap to deliver QSE-5, QuantumScape&rsquo;s first planned commercial product.&rdquo;&nbsp;</p>



<p><a href="https://s29.q4cdn.com/884415011/files/doc_financials/2023/q4/QS-Shareholder-Letter-Q4-2023.pdf">He added</a>,&nbsp;&ldquo;We expect our transformation to continue in 2024, culminating in the integration of these improvements into our target first commercial product, the QSE-5 cell. Our goal is to begin low volume QSE-5 prototype production in 2024, with higher volumes targeted in 2025,&rdquo; as quoted in a shareholder letter.</p>



<p>Plus, according to the company, it has a liquidity buffer of $1.07 billion at the moment. That should provide the company with enough cash as it transitions from prototype to product.</p>



<h2><strong>Albemarle (ALB)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div><p>Keep an eye on rebounding shares of <strong>Albemarle</strong> (NYE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/"><strong>ALB</strong></a>).</p>



<p>While lithium prices are still low, shares of ALB have been pushing higher. In fact, since plunging to a March low of $106.35, it&rsquo;s now back up to $131.69. From here, if ALB can break above current resistance, it could rally back to $140 near term. Sure, there are still plenty of bearish analyst ratings on the stock, but with the blood flowing in the streets, it&rsquo;s time to buy. Especially ahead of an eventual lithium price rebound.</p>



<p>Helping, analysts at&nbsp;<a href="https://www.tipranks.com/news/the-fly/albemarle-price-target-lowered-to-162-from-168-at-loop-capital">Loop Capital recently raised their price target on ALB to $168 from $144</a>&nbsp;with a buy rating. They added, &ldquo;The stock has bounced off its lows, owing to a commensurate move in spot lithium prices in China, and the nascent recovery in lithium prices could signal that the destocking downstream at cathode/cell/battery makers is reaching its conclusion,&rdquo;&nbsp;<a href="https://www.tipranks.com/news/the-fly/albemarle-price-target-raised-to-168-from-144-at-loop-capital">as quoted by TheFly.com</a>.</p>



<h2><strong>Global X Lithium ETF (LIT)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div><p>Or, if you&rsquo;d rather diversify with top battery-related stocks, check out the&nbsp;<strong>Global X Lithium ETF</strong>(NYSEARCA:<a href="https://investorplace.com/stock-quotes/lit-stock-quote/"><strong>LIT</strong></a>). After plunging to a low of $39.26 in February, it&rsquo;s now consolidating at $45.73. From here, I&rsquo;d like to see it break out with a potential test of $52.</p>



<p>With an expense ratio of 0.75%, the ETF holds 40 stocks, investing in the full lithium cycle. That includes mining and refining through battery production. Some of its top holdings include Albemarle,&nbsp;<strong>TDK Corp</strong>. (OTCMKTS:<a href="https://investorplace.com/stock-quotes/ttdky-stock-quote/"><strong>TTDKY</strong></a>),&nbsp;<strong>Pilbara Minerals</strong>&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/pilbf-stock-quote/"><strong>PILBF</strong></a>), and <strong>Panasonic Holdings</strong>&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/pcrfy-stock-quote/"><strong>PCRFY</strong></a>) to name a few.&nbsp;</p>



<p>Plus, the ETF trades at just under $46 a share, which means we can pick up 100 shares for about $4,600. That&rsquo;s far better than picking up 100 shares of just one of the LIT ETF holdings, such as ALB for about $13,169. Not only can we gain exposure to 40 top stocks, we can do it cheap.</p>



<p>With an eventual recovery in lithium prices, and rising battery demand, the LIT ETF could soar.</p>



<p><em>On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a></em>.</p>
<div><p>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/if-you-can-only-buy-one-battery-stock-in-april-it-better-be-one-of-these-3-names/">If You Can Only Buy One Battery Stock in April, It Better Be One of These 3 Names</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

If You Can Only Buy One Battery Stock in April, It Better Be One of These 3 Names

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>The electric vehicle (EV) transition feels like it&rsquo;s further along than where it is. Beyond macroeconomic concerns that may be keeping consumers out of the market, advancements in battery technology will be crucial for the mass adoption that is still the likely outcome for this sector. And that&rsquo;s why now is a good time to invest in <a href="https://investorplace.com/industries/energy/renewable-energy/battery/">battery stocks</a>. &nbsp;</p>



<p>Despite the proliferation of television commercials that are creating awareness, EVs currently make up <a href="https://www.utilitydive.com/news/electric-vehicles-EVs-new-car-sales-2023/700799/" target="_blank">about 9% of new car sales</a>&nbsp;in the United States. That number is sharply higher from where it was just two years ago, but it&rsquo;s not where it&rsquo;s likely to go. For that to happen, issues like range anxiety, battery life, and charging time will have to be addressed.</p>



<p>Therefore, companies involved in battery production are playing just as critical a role today as they did when <strong>Tesla</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a></span>) was the only game in town. And battery technology is likely to evolve significantly by 2030 from where it is today. &nbsp;</p>



<p>If you think of it like what&rsquo;s happening in the chip sector, investing in EV companies is investing in the AI application, investing in battery stocks is like investing in the companies that make the AI application possible. That&rsquo;s where the multi-bagger growth can come from, and here are three names to consider.&nbsp;</p>



<h2>Albemarle (ALB)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div><p><strong>Albemarle</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/alb-stock-quote/"><strong>ALB</strong></a></span>) in one of the world&rsquo;s leading lithium miners with projects in Chile, Australia, and China. Lithium prices dropped in 2023 as weakness in the Chinese economy, and weaker-than-expected demand in the U.S. left the market oversupplied.&nbsp;</p>



<p>However, for the foreseeable future, lithium-ion batteries will remain the standard for battery electric vehicles (BEVs). Therefore, one way to invest in the future of EVs is to invest in companies that are helping get lithium to market. &nbsp;</p>



<p>The supply-demand imbalance <a href="https://www.forbes.com/sites/arielcohen/2023/12/27/lithium-price-collapse-secures-green-transition-causes-headaches/?sh=7202db774a61" target="_blank">may take some time to unwind</a>. This is evident in the ALB stock chart. The stock is down 32% in the last 12 months after climbing to a record high at the end of 2022. Yet revenue was up 31% year-over-year (YOY) in 2023 and even earnings saw a slight 1% YOY gain. &nbsp;</p>



<p>Despite the belief that demand for EVs will grow in both China and the U.S., the lithium market is going through a price discovery stage. For its part, Albemarle announced it was going to be <a href="https://investorplace.com/2024/04/the-3-most-undervalued-lithium-stocks-to-buy-in-april-2024/" target="_blank">cutting capital expenditures in 2024</a>, but this is a company that will be ready to ramp up production when conditions are more favorable. &nbsp;</p>



<h2>Panasonic Holdings (PCRFY)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/pcrfy1600a-300x169.jpg" alt="A Panasonic (PCRFY) sign hanging in Beijing, China. generation z"><div>Source: testing/Shutterstock.com</div></div><p>Until recently, the bullish case for <strong>Panasonic Holdings</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/pcrfy-stock-quote/"><strong>PCRFY</strong></a></span>) as one of the best battery stocks was its standing as one of the leading battery suppliers for <strong>Tesla</strong>. With Tesla deliveries slowing, that may not seem as impressive, but it is. Tesla is still far-and-away the market share leader in the U.S., and that won&rsquo;t change soon.&nbsp;</p>



<p>And Panasonic is still part of Tesla&rsquo;s plans in its growth. In 2023, Panasonic announced plans to <a href="https://www.reuters.com/business/autos-transportation/panasonic-boost-battery-output-teslas-nevada-gigafactory-nikkei-2023-06-05/" target="_blank">increase production at Tesla&rsquo;s Nevada gigafactory</a> by 10% in the next three years. And the company has plans to expand its manufacturing footprint in the U.S. even further. All told, the company plans to quadruple its production capacity through 2031. &nbsp;</p>



<p>Plus, Panasonic is forming partnerships with other companies such as <strong>Lucid</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/lcid-stock-quote/"><strong>LCID</strong></a></span>). And it&rsquo;s making investments in silicon-based and solid-state battery technology that will keep the company relevant as the landscape for battery design changes. &nbsp;</p>



<p>And if investors need another reason, consider that&nbsp;PCRFY stock is objectively cheap. The stock currently trades for about 7.3x forward earnings and has a dividend yield of about 1.9%. &nbsp;</p>



<h2>QuantumScape (QS)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/08/qs1600-300x169.png" alt="In this photo illustration the QuantumScape (qs) logo seen displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div><p><strong>QuantumScape</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/qs-stock-quote/"><strong>QS</strong></a></span>) is a developmental-stage company that has over 300 patents and patent applications for its solid-state battery design. The company has a partnership with <strong>Volkswagen Group </strong>(OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/vagwy-stock-quote/"><strong>VAGWY</strong></a></span>), and in its investor presentation QuantumScape noted it has <a href="https://s29.q4cdn.com/884415011/files/doc_presentation/2024/03/19/QS-IR-Presentation-March-24.pdf" target="_blank">commercial agreements with six automotive original equipment manufacturers (OEMs)</a>.&nbsp;</p>



<p>As many investors know, a solid-state battery addresses many of the concerns that consumers have about lithium-ion batteries. That is, they will have a longer range, charge faster, and have a longer overall life. &nbsp;</p>



<p>The company doesn&rsquo;t have a product on the market yet but is on track for low-volume commercial production in 2024. And the company has the cash runway to ger there. &nbsp;</p>



<p>The bigger question for investors is when will QuantumScape turn a profit? That&rsquo;s harder to answer, and therein lies the risk with QS stock. It&rsquo;s also not the only company developing a solid-state solution. Nevertheless, if you&rsquo;re a speculative investor, QS stock is one of the battery stocks to watch. &nbsp;</p>



<p><em>On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.</em>&nbsp;</p>



<p> &nbsp;</p>
<div><p>Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/3-battery-stocks-to-turn-100000-into-1-million-april-2024/">3 Battery Stocks to Turn $100,000 Into $1 Million: April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

3 Battery Stocks to Turn $100,000 Into $1 Million: April 2024

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Technology specialist <strong>QuantumScape</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/qs-stock-quote/"><strong>QS</strong></a>) &mdash; which is researching and developing solid-state batteries (SSBs) for electric vehicles &mdash; has struggled badly since peaking in December 2020. However, some developments could help potentially lift QS stock from the doldrums. A critical test will occur on April 24, when the company is scheduled to release its first-quarter earnings report.</p>



<p>During the three months ended March 31, QuantumScape made a <a href="https://www.tipranks.com/news/company-announcements/quantumscape-announces-leadership-transition-and-new-ceo">significant change at the top</a>. In February, the company announced the appointment of Dr. Siva Sivaram as the new CEO. As well, Dr. Sivaram would take a board seat. According to the company&rsquo;s press release, the new head executive commands a wealth of experience in tech and manufacturing.</p>



<p>In addition, QuantumScape achieved <a href="https://ir.quantumscape.com/resources/press-releases/news-details/2024/QuantumScape-Appoints-Dr.-Siva-Sivaram-as-CEO-to-Lead-Next-Phase-of-Growth/default.aspx">several important milestones</a> that it claims have set the foundation for future growth. In particular, its prototype battery cell achieved more than 1,000 full-cycle equivalents with 95% discharge energy retention during laboratory tests.</p>



<p>Further, the company made key improvements to the components and processes necessary to transition from prototype to product. It also bolstered its balance sheet with a follow-on offering, along with strengthening relationships with original equipment manufacturer (OEM) partners. QS stock has been steadily marching higher since Monday.</p>



<h2>QS Stock Faces Steep Challenges</h2>



<p>For the upcoming Q1, analysts on average anticipate <a href="https://www.tipranks.com/stocks/qs/earnings">a loss per share of 23 cents</a>. Currently, the company doesn&rsquo;t generate revenue and is not expected to generate revenue in the current fiscal year. However, covering experts believe that <a href="https://finance.yahoo.com/quote/QS/analysis">sales could materialize in fiscal 2025</a>. The average estimate calls for $5.38 million, with the high-side estimate targeting $18 million.</p>



<p>Still, a major concern for QS stock is that investors may be running low on patience. First, while the average quarterly surprise last year came out to 1.43%, the company &ndash; without revenues &ndash; is obviously losing money. Per data from Gurufocus, the retained loss since the end of Q4 2023 came out to nearly $2.9 billion.</p>



<p>Another major headwind working against QS stock is competition. While SSBs hold great promise for the broader adoption of EVs, QuantumScape isn&rsquo;t the only name in town. Automotive giant <strong>Toyota</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/tm-stock-quote/"><strong>TM</strong></a>) has also invested heavily in SSB technology, <a href="https://carboncredits.com/toyota-reveals-solid-state-ev-battery-with-745-mile-range-cuts-emissions-by-39/">claiming some impressive early results</a>.</p>



<p>If that wasn&rsquo;t enough of a headache, developing an SSB itself is extraordinarily difficult. While SSBs promise higher energy densities, the platform is also prone to dendrite formations. And that can lead to <a href="https://www.pv-magazine.com/2021/04/28/cracking-the-case-for-solid-state-batteries/">cracks in the electrolyte</a>, resulting in short circuiting in the battery cell. Therefore, even Toyota is <a href="https://www.autoblog.com/2023/11/27/toyota-tempers-expectations-for-solid-state-battery-adoption/">tempering expectations</a> for its SSBs.</p>



<h2>Why It Matters</h2>



<p>Currently, QS stock incurs a <a href="https://fintel.io/ss/us/qs">short interest</a> of 15.55% of its float. Its short ratio is also elevated at 12.9 days to cover. These stats could make QuantumScape a target for short-squeeze speculation. However, it&rsquo;s worth noting that analysts rate QS a <a href="https://www.tipranks.com/stocks/qs/forecast">moderate sell</a>, with an average price target of only $6.13.</p>



<p><em>On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com </em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"><em>Publishing Guidelines</em></a><em>.</em></p>
<div><p>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</p></div><h3>More From InvestorPlace</h3>
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	<p>The post <a href="https://investorplace.com/2024/04/dear-qs-stock-fans-mark-your-calendars-for-april-24/">Dear QS Stock Fans, Mark Your Calendars for April 24</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

Dear QS Stock Fans, Mark Your Calendars for April 24

Earnings week ahead: Tesla, Meta Platforms, Google, Microsoft, Intel, Exxon Mobil, and more

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p><strong>Tesla</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a></span>) is <a href="https://finance.yahoo.com/news/1-tesla-lay-off-more-094932104.html">preparing to lay off</a> over 10% of its staff. <strong>Ford</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/f-stock-quote/"><strong>F</strong></a></span>) is <a href="https://finance.yahoo.com/news/1-ford-cuts-prices-f-181420991.html">slashing the prices</a> on some EVs by as much as $5,500. This is a tough time to invest in EV-associated companies. With an imminent event adding an extra element of risk for <strong>QuantumScape</strong>&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/qs-stock-quote/"><strong>QS</strong></a>), you don&rsquo;t need to buy QuantumScape stock&nbsp;right now.</p>



<p>I understand the appeal of a <a href="https://investorplace.com/hypergrowthinvesting/2023/06/quantumscape-forever-battery-qs-stock-luke-lango/">&ldquo;forever battery&rdquo;</a> for EVs. Yet, as the company&rsquo;s investors have found out the hard way, there&rsquo;s a disconnect between concept and reality with QuantumScape. The company can&rsquo;t seem to deliver long-term returns to its shareholders and soon the situation could easily go from bad to worse.</p>



<h2>QuantumScape Ships a Battery Prototype  Again</h2>



<p>Back in December 2022, QuantumScape&nbsp;shipped out its&nbsp;<a href="https://ir.quantumscape.com/resources/press-releases/news-details/2022/QuantumScape-Ships-First-24-Layer-Prototype-Battery-Cells-to-Automotive-OEMs/default.aspx">24-layer prototype lithium metal battery cell</a>&nbsp;to automotive manufacturers. This was a long-awaited event, and it seemed exiting.</p>



<p>Nearly a year and a half later, QuantumScape stock is practically in the same place. There were share-price pops along the way, but the sellers always regained control.</p>



<p>Now, QuantumScape&nbsp;is shipping out prototype battery cells again. On March 27, the company announced the shipments of <a href="https://finance.yahoo.com/news/quantumscape-begins-customer-shipments-alpha-104500292.html">Alpha-2 battery cells</a>, which are supposedly &ldquo;more energy-dense than the earlier 24-layer A0 prototype.&rdquo;</p>



<p>That announcement caused QuantumScape stock to jump to around $6.50. By &ldquo;tax day,&rdquo; April 15, the stock was back to $5.50.</p>



<p>Clearly, the market saw QuantumScape shipping out another prototype as a &ldquo;so, what?&rdquo; event. This might have been a &ldquo;wow&rdquo; moment when interest rates were low and the market was in a more speculative mood. Nowadays, however, the market is warier of unprofitable businesses.</p>



<p>That&rsquo;s especially true when it&rsquo;s a company that&rsquo;s burning capital quickly. In QuantumScape&rsquo;s case, the company&rsquo;s position of cash and cash equivalents dropped from <a href="https://s29.q4cdn.com/884415011/files/doc_financials/2023/q4/QS-Shareholder-Letter-Q4-2023.pdf">$235.393&nbsp;million</a> at the end of 2022 to just $142.524 million at the end of 2023.</p>



<h2>QuantumScape Stock: Mark Your Calendar, Then Run for the Hills</h2>



<p>In case you&rsquo;re still feeling ultra-bullish about QuantumScape, here&rsquo;s another piece of negative news or two. The company has an almost perfect track record of missing analysts&rsquo; consensus <a href="https://www.tipranks.com/stocks/qs/earnings">quarterly EPS estimates</a>. In fact, the past year has delivered nothing but quarterly EPS misses for QuantumScape.</p>



<p>Very soon, there will be another opportunity for QuantumScape to deliver expectation-beating results (or not). Specifically, the company will release its first quarter 2024 results on <a href="https://finance.yahoo.com/news/quantumscape-announces-timing-first-quarter-201500690.html">April 24</a> after the market closes.</p>



<p>Maybe there will be a positive surprise and QuantumScape stock will skyrocket. But then, the stock could also drop. Remember, this is a volatile asset with a tendency to go down over time.</p>



<p>Analysts collectively forecast that QuantumScape&nbsp;will have lost <a href="https://www.tipranks.com/stocks/qs/earnings">23 cents per share</a> in the first quarter. Even if QuantumScape meets that expectation, another income-negative quarter isn&rsquo;t anything to brag out.</p>



<p>Plus, we&rsquo;ll get to find out how much more cash QuantumScape&nbsp;burned through. That&rsquo;s not something to celebrate, either.</p>



<h2>QuantumScape Stock: Avoid or Be Annoyed</h2>



<p>Surely, it must have been annoying to watch the market yawn after QuantumScape&nbsp;announced the shipment of another prototype battery cell. All in all, seeing one&rsquo;s investment in a promising business lose value must be frustrating.</p>



<p>There could be a major turnaround moment on April 24, but don&rsquo;t count on it. QuantumScape has a poor earnings track record and a less-than-ideal capital position. The prudent policy, then, is to sell QuantumScape stock today and/or avoid it altogether.</p>



<p><span><i>On the date of publication, David Moadel</i></span><i>&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;</i><em>The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a><em>.</em></p>
<div><p>David Moadel has provided compelling content &ndash; and crossed the occasional line &ndash; on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.</p></div><h3>More From InvestorPlace</h3>
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	<p>The post <a href="https://investorplace.com/2024/04/tough-times-for-ev-stocks-why-quantumscape-investors-should-steer-clear/">Tough Times for EV Stocks: Why QuantumScape Investors Should Steer Clear</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

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<p>As concerns <a href="https://unctad.org/news/global-economic-growth-set-slow-26-2024-just-above-recession-threshold">about a global recession grow</a>, it might be wise to consider divesting from certain Nasdaq stocks to sell. The <strong>Nasdaq</strong> is known for hosting a range of innovative tech companies. However, not all of these align with traditional market strengths. Specifically, some publicly traded companies on the exchange present a dual challenge: they are both high-risk and overvalued.</p>



<p>Given that the topic of selling Nasdaq stocks can be sensitive, I will focus this discussion on financial data. You might not agree with this analysis, and that&rsquo;s perfectly acceptable. Indeed, the diversity of opinions is what enriches the free market. The aim of this article is to highlight specific companies that exhibit fundamental weaknesses.</p>



<p>I considered these Nasdaq stocks to sell due to a mix of their free cash flow problems, debt issues, competitive weaknesses, and overall risky and unfavorable positions. We&rsquo;ve been on a historic bull market for the last couple of years. Furthermore, I think these companies will be the first to take a large hit when the market inevitably corrects itself.</p>



<p>So here are three Nasdaq stocks to sell for this month.</p>



<h2>Canopy Growth (CGC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/cgc1600-300x169.jpg" alt="The Canopy Growth (CGC) website is open in an internet browser tab."><div>Source: Jarretera / Shutterstock.com</div></div><p>As my colleague Joel Baglole wrote recently, <strong>Canopy Growth</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/cgc-stock-quote/"><strong>CGC</strong></a>) has been posting significant losses. Its stock price has been dramatically declining over the past years. Ongoing financial struggles and shrinking market share make its future uncertain&#8203;.</p>



<p>Looking ahead, <a href="https://www.marketbeat.com/stocks/NASDAQ/CGC/price-target/">analysts have a conservative outlook</a> on CGC&rsquo;s stock, with current price targets suggesting a potential downside. The consensus price target is around $4.87, indicating a 38% decrease from the current levels.</p>



<p>However, I think that things are worse than they appear for CGC.</p>



<p>CGC recorded nearly a billion dollars in losses over the last 12 months. It only has $140 <a href="https://stockanalysis.com/stocks/cgc/forecast/">million of cash</a> on its balance sheet. Furthermore, it already has nearly half a billion dollars of debt, too. The debt stands at $446 million, a huge sum for a company whose EPS has consistently been negative.</p>



<p>CGC has also undergone a massive shareholder dilution, with shares outstanding growing 70.58% year-over-year.</p>



<p>I think that even if CGC is somehow able to remain solvent, this dilution will continue at the expense or shareholders. At the minimumm its financial risk profile will increase, which then makes it one of those Nasdaq stocks to sell.</p>



<h2>Beyond Meat (BYND)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/bynd1600-1-1-300x169.png" alt="Editorial photo on Beyond Meat (BYND) theme. Illustrative photo for news about Beyond Meat - a producer of plant-based meat substitutes. BYND stock"><div>Source: photo_gonzo / Shutterstock.com</div></div><p><strong>Beyond Meat</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/bynd-stock-quote/"><strong>BYND</strong></a>) has seen its stock price plummet as losses mount and sales continue to decline.</p>



<p>Analysts have taken a bearish stance on BYND, as it has a &ldquo;<a href="https://stockanalysis.com/stocks/bynd/forecast/">Sell</a>&rdquo; consensus rating, and EPS profitability is not expected to be reached in the foreseeable future.</p>



<p>The full-year forecast is set at $315-345 million, <a href="https://dexwirenews.com/beyond-meat-nasdaq-bynd-q4-exceeds-expectations-2024-outlook-dampens-growth-prospects/">below the $343.8 million consensus</a>. Despite a steep 24.1% negative gross margin in 2023, BYND aims to reach mid-to-high margins in 2024, with improvements expected in the latter half of the year.</p>



<p>Significant budget cuts of $70 million are planned for 2024, alongside efforts to optimize its manufacturing processes and adjust pricing strategies to support margin expansion.</p>



<p>However, I&rsquo;m not sure this is enough to support BYND&rsquo;s business moving forward. It has less than two years worth of cash on its balance sheet per its current rate of cash burn, and already has more than one billion dollars worth of debt.&nbsp;</p>



<p>BYND has an interesting premise, but I think it&rsquo;s time for management to front up that it poses too much risk for investors to assume.</p>



<h2>QuantumScape (QS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/01/quantumscape-qs-stock-1600-300x169.jpg" alt="The entrance to QuantumScape Headquarters QS stock"><div>Source: Tada Images / Shutterstock.com</div></div><p><strong>QuantumScape</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/qs-stock-quote/"><strong>QS</strong></a>)&nbsp; involved in developing solid-state batteries for electric vehicles, has faced skepticism about its technology&rsquo;s viability and timeline</p>



<p><br>QS has no revenue or earnings, and has around three years worth of cash on its balance sheet before it must raise capital again, assuming all else being equal.</p>



<p>The dream of QS is being kept alive by some very optimistic projections from Wall Street, this includes its revenue <a href="https://stockanalysis.com/stocks/qs/forecast/">surging to 1.38 billion</a> in FY2028, and a steadily improving bottom line.</p>



<p>The problem is that these predictions are incredibly optimistic. It&rsquo;s making a lot of assumptions about the viability of its business model, the success of its research team, the market&rsquo;s adoption of QS&rsquo;s solution, and so on. Normally assumptions are made on past data from sales and earnings, as well as other factors. But since QS lacks this history, what we&rsquo;re left with is essentially opinion and speculation.&nbsp;</p>



<p>There many moving parts to the QS stock thesis, and any one of those parts, including unforeseen one&rsquo;s going wrong can throw a spanner in the works severely, thus making it one of those highly risky Nasdaq stocks to sell, that are interesting nonetheless.</p>



<p>For 2024, <a href="https://www.investing.com/news/stock-market-news/earnings-call-quantumscape-advances-in-solidstate-battery-development-93CH-3304573">QS plans to begin low-volume production</a> of its QSE-5 prototype batteries, with expectations to ramp up to higher volumes in 2025. The company anticipates capital expenditures to range between $70 million and $120 million for the year, with an adjusted EBITDA loss projected between $250 million to $300 million.&nbsp;</p>



<p><em>On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em> </em>InvestorPlace.com Publishing Guidelines</a>.</p>
<div><p>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/3-nasdaq-stocks-that-could-be-heading-six-feet-under/">3 Nasdaq Stocks That Could Be Heading Six-Feet Under</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

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