Bill Gates-Backed QuantumScape Accused of Fraud; Shares Tumble By Investing.com
By Christiana Sciaudone Investing.com -- Bill Gates-backed QuantumScape is "a pump and dump SPAC scam by Silicon Valley celebrities that makes Theranos look like amateurs." That's according to Scorpion Capital. Quantumscape Corp (NYSE:QS), which makes lithium car batteries for vehicles, tumbled almost 13% after the short-seller published a scathing 188-page presentation accusing QuantumScape of all manners of fraud. "Our due diligence of QuantumScape’s six key technical claims leads us to conclude they lack credibility and exhibit Theranos-like red flags," according to the presentation. "Volkswagen (DE:VOWG_p) employees indicate that engineers and battery experts internally are highly skeptical...
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