ENVX - Enovix Stock Is Sliding Tuesday: What's Going On? | Benzinga
Enovix Corp (NASDAQ: ENVX) shares are trading lower Tuesday after the company announced a strategic realignment of its Fab1 facility and said third-quarter production fell short of guidance.
What Happened: Enovix announced that it will transition its Fab1 facility from a manufacturing plant to a "center for innovation" focused on product development.
The silicon battery company will also cut its workforce at the factory by about 185 people. The restructuring is expected to be completed in the fourth ...