HSBC has downgraded QuantumScape, citing concerns about visibility on contract economics. The company’s stock dropped by 8% following the downgrade. QuantumScape is a solid-state battery technology company that went public through a SPAC merger last year. HSBC’s downgrade has raised doubts about the company’s future prospects.

Read more at Investing.com: HSBC downgrades QuantumScape flagging visibility on contract economics