The collapse of SVB Financial Group (NASDAQ: SIVB) could have a ripple effect on the technology and biotech industries, the two largest sectors that had deposits and financial relationships with the company’s Silicon Valley Bank.
QuantumScape Corp (NYSE: QS) shares are trading lower by 7.43% to $8.84 going into Wednesday's close amid weakness in EV stocks following mixed fourth-quarter results from Rivian Automotive Inc and worse-than-expected results from Workhorse Group Inc.
QuantumScape (NYSE: QS) shares are trading lower Thursday after the company reported worse-than-expected Q4 EPS.
QuantumScape reported a fourth-quarter net loss of $0.25 per share, which missed consensus estimates for a loss of $0.21 per share.
Gainers
TravelCenters of America Inc. (NASDAQ: TA) shares jumped 70.5% to $84.32 after BP announced it will acquire the company for $86 per share in cash.
The resilient market faces another test on Thursday, as traders get to digest another set of economic data and a few Fed speeches. The index futures pointed to a cautious start on Thursday.
Cues From Wednesday’s Trading:
This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
QuantumScape Corp (NYSE: QS) and ChargePoint Holdings Inc (NYSE: CHPT) are both seeing marked strength during Friday's session. Shares of EV-related and clean energy vehicle stocks are trading higher following a