CEO of Bill Gates-backed electric car battery startup comments on company outlook after stock plunges 40{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} [Video]

The first day of trading in the New Year wasn’t too kind to the red-hot shares of upstart battery technology player QuantumScape (QS). But its founder Jagdeep Singh is quick to tamp down any speculation the fundamental story has changed overnight.

Somewhat out of nowhere, shares of QuantumScape plunged 41{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} on Jan. 4. According to a source, the sell-off was triggered by the company filing what’s known as a Resale S-1 form on Dec. 31. The market interpreted the filing as the company would be selling shares amid the stock’s surge in value, which would have