We recently compiled a list of the 10 Hottest Stocks: What's Fueling Their Rise. In this article, we are going to take a look at where Quantumscape Corp. (NYSE:QS) stands against the other stocks that skyrocketed yesterday.

Ten companies—predominantly involved in the quantum computing sector—have taken the spotlight on Thursday, booking significant gains despite a lackluster performance from Wall Street’s main indices.

To come up with Thursday’s top gainers, we considered only the stocks that have at least $2 billion in market capitalization and $5 million in daily trading volume.

A line of electric vehicles parked in front of a research & development building in San Jose, California.

Quantumscape Corp. (NYSE:QS)

Quantumscape saw its stock price rally by 14.34 percent on Thursday to end the day at $6.14 apiece.

The company, which focuses on developing solid-state lithium-metal battery technology for electric vehicles, recently announced the delivery, installation, and release of initial processing of Cobra equipment.

Cobra represents a significant innovation in ceramic solid-state separator production. The milestone is said to be the culmination of advanced research and development on Quantumscape’s fast separator production process, which it regards as the core innovation that will allow its battery technology to be manufactured at a gigawatt-hour scale.

Quantumscape said achieving such a milestone on schedule puts it on track to deliver higher-volume samples of its first planned commercial product in 2025, and is a major step toward the commercialization of solid-state batteries for electric vehicles.

Overall QS ranks 5th on our list of the stocks that skyrocketed yesterday. While we acknowledge the potential of QS as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than QS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

Disclosure: None. This article is originally published at Insider Monkey.