QuantumScape (QS) Tumbles as 5 Execs Unload Stake

We recently published 10 Stocks Hammered Harder Than Wall Street. QuantumScape Corporation (NYSE:QS) is one of Tuesday’s worst performers.

QuantumScape extended its losing streak to a fourth straight day on Tuesday, dropping 10.11 percent to close at $7.91 apiece as investors reacted to an insider selling spree in the previous trading sessions.

In separate regulatory filings earlier this week, QuantumScape Corporation (NYSE:QS) revealed that five top executives, including chief executive officer Siva Sivaram, disposed of a significant chunk of their shares in the company.

Last Monday alone, Sivaram unloaded 100,178 shares for a total of $904,607, while Chief Legal Officer Michael McCarthy sold 45,371 shares for a total of $409,700.

Chief Financial Officer Kevin Hettrich disposed of 46,837 shares for a total of $422,938, while co-founder and Chief Technology Officer Tim Holme sold 47,727 shares for $430,974.

Meanwhile, Chief Development Officer Singh Mohit made two selling transactions, unloading 47,727 shares for $430,974 on Monday, followed by 23,598 shares for $204,165 on Tuesday, August 19.

No reason was divulged for the selling transactions, except that the officers may have cashed in on gains following QuantumScape Corporation’s (NYSE:QS) climb to almost $10 level last week.

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