Quantumscape Corp. (QS) is maintaining its upward momentum, soaring 5.82% in pre-market trading on Thursday. This follows an impressive 31% surge on Wednesday, as investors continue to react positively to the company's latest technological breakthrough in solid-state battery production.

The enthusiasm stems from Quantumscape's announcement late Tuesday that its innovative "Cobra" separator process has entered "baseline production." This development marks a significant milestone for the company, bringing it closer to producing solid-state batteries that could potentially revolutionize the electric vehicle (EV) industry. The Cobra process is reportedly substantially superior to prior methods, potentially accelerating Quantumscape's path to commercially viable solid-state EV batteries.

Market sentiment appears overwhelmingly bullish on Quantumscape's prospects. Wednesday's options trading activity reflected this optimism, with call options accounting for 81% of the total 323,945 options traded. Notably, some bullish bets saw extraordinary gains, with the $5 strike call option expiring this Friday skyrocketing by 7300%. This surge in call options suggests that traders are betting on continued upside for Quantumscape's stock in the near term.