Why Shares of QuantumScape, First Solar, and ChargePoint Plunged in October

After a bullish September when markets raced higher, investor sentiment headed south in October, resulting in the S&P 500 (SNPINDEX: ^GSPC) and Dow Jones Industrial Average (DJINDICES: ^DJI) tumbling 1% and 1.3%, respectively. Several alternative energy stocks, however, suffered even steeper declines.According to data provided by S&P Global Market Intelligence, First Solar (NASDAQ: FSLR), a leading manufacturer of solar panels, plunged 22%, while solid state battery specialist QuantumScape (NYSE: QS) and ChargePoint (NYSE: CHPT), a leader in electric vehicle (EV) charging infrastructure, dropped 10.4% and 12.4%, respectively.Ripping higher on Oct. 24, QuantumScape stock benefited from investors' charged-up reaction to the company's third-quarter 2024 financial results presentation the day before, as the stock closed about 25% higher. The enthusiasm, however, didn't last long. On Oct. 28, the company provided an investor presentation that shook the bulls' resolve, and shares promptly headed south.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool