Reflecting this, next-generation battery maker QuantumScape's (NYSE: QS) popularity has faded like a sputtering electrical charge. A $1,000 play on QuantumScape stock made on April 16, 2021 would be worth less than $107 four years later. If investors were bailing from the EV industry as a whole, you can bet they were speeding far away from a company that is still in the development stage with its technology and doesn't produce revenue.