Shares of Amazon (NASDAQ: AMZN) took another step down today, even though there was no company-specific news about the tech giant. Amazon stock finished the day down 4.3%, while the Nasdaq lost 2.5%. While Amazon doesn't have direct exposure to the layoffs at the Facebook parent or the collapse in the crypto market, it arguably has more exposure to consumer and business spending than any other company. Read More...
Motley Fool
Why QuantumScape Plunged Today
Shares of solid-state electric battery-maker QuantumScape (NYSE: QS) were in freefall today, down 14% as of 3:21 p.m EST. The company reported third-quarter earnings at the end of October, but today’s move was likely caused by a big analyst downgrade, sending the stock even lower than many other EV stocks, which also generally had a bad day today. This morning, Morgan Stanley analyst Adam Jonas issued a note on QuantumScape, downgrading his rating to the equivalent of a “sell,” while lowering his price target on the stock from $12 to just $4.
