ENVX - Enovix: Poised To Gain Clout In The Smartphone Battery Space
2024-06-11 12:05:14 ET
Summary
- ENVX's batteries which run on silicon-based anodes could revolutionize the density and capacity of smartphone batteries, attracting top OEMs to whom samples are currently being sent.
- ENVX's topline is poised to see a tremendous surge of 227% CAGR over the next two years.
- ENVX is currently heavily exposed to the military segment, whilst the prospect of profitability looks like a distant dream.
- ENVX could be due a breakout from its falling wedge, but we don't believe the risk-reward is ideal, and prefer an entry at lower levels.
Introduction
Enovix Corporation ( ENVX ), a small-cap stock focused on developing disruptive battery technology, hasn’t had the greatest of years in 2024 so far; at a time when other industrials have generated positive gains of +8% on average, and the prime benchmark has done even better, with positive gains in the low teens, ENVX has lost around -9% this year....
Enovix: Poised To Gain Clout In The Smartphone Battery Space