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Source: istock, QuantumScape

How to Buy the QuantumScape Stock IPO

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QuantumScape stock will soon be available for public trading. The company plans to go public on the NYSE under the ticker symbol “QS.” How and where can investors buy QuantumScape stock? 

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First, QuantumScape is an electric vehicle battery company. QuantumScape develops solid-state batteries. Currently, companies like Tesla and NIO use lithium-ion batteries to power their electric vehicles. Bill Gates is one of the QuantumScape backers.  

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Where can investors buy the QuantumScape stock IPO?

You will need to open a brokerage account and fund it to be able to buy QuantumScape stock after it becomes available for public trading. Investors will have many options in regards to where they can buy QuantumScape stock. For example, you can open an online stock trading account with brokers like Robinhood, Vanguard, M1 Finance, Webull, SoFi Invest, Tastyworks, and Square’s Cash App Investing.

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How to buy the QuantumScape stock IPO on Robinhood

To be able to buy QuantumScape stock on Robinhood, you will need to open a Robinhood trading account. Robinhood offers three account types — Robinhood Cash, Robinhood Instant, and Robinhood Gold. 

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Robinhood allows investors to buy and sell stocks and other securities without a commission. Also, the company supports pre-IPO stock purchases, which may be ideal for investors looking to buy QuantumScape stock on its IPO debut. Robinhood supports fractional shares purchases, which could be a great fit for small-budget investors.

When is QuantumScape stock's IPO date?

The exact QuantumScape IPO date hasn't been set. However, QuantumScape plans to become a publicly-traded company in the fourth quarter of 2020. The battery startup has chosen to go public through a special purpose acquisition company (SPAC) instead of the traditional IPO route. QuantumScape is following in the footsteps of Nikola, Lordstown Motors, Fisker, and Canoo.

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Should you buy the QuantumScape stock IPO?

QuantumScape stock may be a great fit for investors seeking exposure to the electric vehicle sector. The global electric vehicle market is on course to hit $802.8 billion in 2027 from $162.3 billion in 2019. 

QuantumScape develops batteries for future electric vehicles. For example, QuantumScape batteries will recharge faster and support a higher driving range than the lithium-ion batteries in use currently. 

Justin Mirro, the head of Kensington Capital Acquisition Corp., said that the company picked QuantumScape because it thinks that the startup has built a revolutionary battery technology. Kensington is the SPAC taking QuantumScape public. 

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