Enovix Corp (ENVX)

[Eagle1]

Is this a buyout candidate?

[Roily23]

Well there's part of your answer! The last reported Short position is around 19 mil with 4.9 days cover, it will be interesting to see what the next report says. This one is just getting started.

[Roily23]

A VERY BIG ONE. They have industry changing technology and the leadership is impeccable with a proven track record of success. This is just getting started,

[MONYMAN3]

https://ir.enovix.com/news-releases/news-release-details/enovix-announces-manufacturing-partner-and-location-fab-2

Good news, partnering with a company that's making a significant financial commitment to the building of Fab2. ENVX making all the right moves. Could be the reason TJ Rodgers added about 500,000 shares lately. He's in over a 14 B stake, so definitely putting his money where his mouth is. ENVX up over 33% in the last month. There is a gap fill to $18 waiting to be filled. Now if we could get a licensing deal with someone like Samsung.

[MONYMAN3]

ENVX will need to produces hundreds of millions of batteries. What they are doing with Fab 1 is producing batteries for consumer products companies to test and design into their next generation consumer products. The production from Fab1 is paltry. It is a proof of concept for ENVX's technolgy Fab. Fab 2 is about 9xs more productive but it's output is also paltry compared to the demand. It is a prototype line for other battery companies to adapt their own lines to produce under royalty or the consumer product's companies to build their own lines. If you are waiting for ENVX to build enough capacity to power even one product of a major consumer product we will be waiting a long time. This stock will explode upon the news of a major battery company licensing ENVX's technology. Someone like Samsung would be ideal. ENVX is working with Samsung. Even better would be for AAPL to sign on a licensing deal, since they are becoming more and more vertically integrated.

[zdog]

Looks like it could be a big one to me. They apparently have a great battery and are putting the resources into fixing the manufacturing problems and increasing capacity. Hopefully once the customers complete testing with a positive result they will be able to produce enough to meet a very high demand.

[Roily23]

Nice to see a few people have discovered this one.

[MONYMAN3]

Today TJ added another 102,599 shares @$11.57. Brings his position to 21,774,826 shares.

[MONYMAN3]

From 3/15 to 3/20 Chairman TJ Rodgers filed four s-4s indicating purchases of nearly 130,000 shares on the 15th, 34,899 on the 16th, 98,700 on the 17 th and 69,577 on the 20th. They say that there are many reasons to sell, but usually only one reason to buy (to make money). Not sure if news is coming down the road soon (why the buying now?) or general optimism by someone in the position to know.

[Roily23]

Yes on the hires and you really need to understand their backgrounds and the positions they left to be with ENVX. Also look at TJ Rodgers share purchases this week, he bought 2$ million worth and that should tell you all you need to know.Analysts looking for $100-200 PPS.

[Bill Harford]

They just announced new hires, which is kind of ironic given Meta announced 10k layoffs the same day.

[jtomm]

Nice announcement on the Malaysian Fab. Raj is a guy who has done big things before and seems like a good guy for the job.

[_-Abe-_]

Thanks for all the info Xena.

[XenaLives]

Historic short interest:

You can go to this link to check short interest in a stock:
http://nasdaqtrader.com/Trader.aspx?id=ShortInterest

Publication schedule is here:
http://nasdaqtrader.com/Trader.aspx?id=ShortIntPubSch

 
 Enovix Corporation - Common Stock 
 Settlement Date	Short Interest	Percent Change	Average Daily Share Volume	Days to Cover 
 01/13/2023	18,794,815	23.49	9,579,871	1.96 
 12/30/2022	15,220,067	9.84	3,352,655	4.54 
 12/15/2022	13,856,212	(2.88)	2,337,553	5.93 
 11/30/2022	14,267,236	5.06	2,526,057	5.65 
 11/15/2022	13,580,122	(2.48)	6,583,829	2.06 
 10/31/2022	13,925,304	13.59	2,895,703	4.81 
 10/14/2022	12,259,157	(9.19)	2,992,003	4.10 
 09/30/2022	13,499,207	3.94	4,559,214	2.96 
 09/15/2022	12,987,421	(0.47)	5,225,866	2.49 
 08/31/2022	13,049,116	(13.93)	6,915,804	1.89 
 08/15/2022	15,160,880	11.74	4,742,429	3.20 
 07/29/2022	13,567,528	0.36	1,796,145	7.55 
 07/15/2022	13,519,314	5.31	2,012,559	6.72 
 06/30/2022	12,837,507	142.22	4,381,137	2.93 
 06/15/2022	5,299,987	(38.35)	2,227,885	2.38 
 05/31/2022	8,597,154	69.71	2,388,880	3.60 
 05/13/2022	5,065,654	10.63	3,789,807	1.34 
 04/29/2022	4,578,764	3.01	878,616	5.21 
 04/14/2022	4,444,834	20.80	1,253,028	3.55 
 03/31/2022	3,679,581	(13.32)	1,089,510	3.38 
 03/15/2022	4,245,249	5.53	1,288,577	3.29 
 02/28/2022	4,022,673	2.90	948,172	4.24 
 02/15/2022	3,909,399	21.77	834,274	4.69 
 01/31/2022	3,210,547	11.03	1,439,560	2.23 
  
 

[XenaLives]

Battery Maker Enovix Hopes To Recharge With New CEO, Strategy


PATRICK SEITZ04:05 PM ET 01/10/2023
Enovix (ENVX) stock has been on a roller-coaster ride since going public less than two years ago. The maker of next-generation lithium-ion batteries recently saw its shares drop to a record low on manufacturing snags and an executive shake-up.

X
Company executives say the pressure is on them now to execute and show they can mass-produce their advanced batteries, starting with cells for wearables and smartphones.

Fremont, Calif.-based Enovix replaced its chief executive last month after a disappointing third-quarter report. In that Nov. 1 report, the company disclosed that it had missed milestones for producing its batteries at scale. Enovix stock tumbled more than 41% the day after releasing the report.

"Our gen-one production output is probably lower than most people expected it to be," Ralph Schmitt, senior vice president of sales and business development at Enovix, told Investor's Business Daily at the CES 2023 trade show. "But the next gen will be significantly higher. We've been saying four to five times the output."

Enovix Batteries Boast Higher Capacity
Enovix makes advanced silicon-anode lithium-ion batteries. The company's proprietary 3D cell architecture is designed to increase energy density and maintain high cycle life. The initial market for its batteries is mobile devices, but the company expects to expand eventually into the electric-vehicle and energy-storage markets.

Enovix batteries pack 30% to 100% more power into the same area as traditional lithium-ion batteries, Schmitt said. Also, its silicon-anode batteries don't have the fire risk of today's graphite-anode lithium-ion batteries, he said.

"We've proven the technology now," Schmitt said. "It's been 15 years that this company has been working on this. The first 10 years were really dedicated to ensuring that the technology works. We've been able to ship product for the last five years or so to customers and have done significant amounts of testing. And clearly they've all said that it does work and meets their requirements."

Mass Production Still To Come
The issue recently has been getting the production volumes up. Its initial production line now runs thousands of battery cells a day, but the process needs more automation, Schmitt said.

The company's second-generation production line will be located at a site in Asia, closer to many customers, he said. Enovix expects that factory to produce millions of batteries a year. Meanwhile, details of the new plant will be announced in July.

"It's really just execution of getting to scale that's important," Schmitt said.

New CEO Gives Enovix Stock A Lift
To meet the challenges of increased production, Enovix announced on Dec. 29 that it has hired Raj Talluri as president and chief executive, effective Jan. 18. Enovix stock popped 15% on the news. Talluri is a veteran semiconductor executive who joins Enovix from Micron Technology (MU). Before that, he worked at Qualcomm (QCOM) and Texas Instruments (TXN).

"We are going to infuse Enovix with a silicon-industry mindset," Executive Chairman T.J. Rodgers said on an investor webcast late on Jan. 3. But investors sold off Enovix stock after the webcast. Shares dropped to an all-time low of 6.50 on Jan. 4.

Enovix Stock Gets Buy Rating
Still, Oppenheimer analyst Colin Rusch reiterated his outperform, or buy, rating on Enovix stock after the webcast.

"Enovix has an impressive amount of customer engagement and collaboration for an early-stage company, which we view as a strong validation of its offering and technology position," he said in a note to clients last week. Initial customers have included Samsung and the U.S. Army. Analysts say Apple (AAPL) is a potential customer as well.

Also, the production-ramp challenges that Enovix is facing appear well-characterized and manageable, Rusch said.

Enovix stock began trading in July 2021 after the company merged with a special purpose acquisition company. Shares reached a record high of 39.48 in November 2021.

On the stock market today, Enovix stock rose 2.8% to 8.55.

https://www.investors.com/news/technology/enovix-stock-looks-to-regain-investor-confidence/

[XenaLives]

SPAC - HISTORY

SAN DIEGO, Jan. 9, 2023 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Enovix Corporation f/k/a Rodgers Silicon Valley Acquisition Corp. (NASDAQ: ENVX) common stock between February 22, 2021 and January 3, 2023, inclusive (the "Class Period") have until March 7, 2023 to seek appointment as lead plaintiff in the Enovix class action lawsuit. Captioned Twitchell v. Enovix Corporation, No. 23-cv-00071 (N.D. Cal.), the Enovix class action lawsuit charges Enovix and certain of its top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Enovix class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-enovix-corporation-f-k-a-rodgers-silicon-valley-acquisition-corp-class-action-lawsuit-envx.html

You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [e-mail].

CASE ALLEGATIONS: Enovix purports to design, develop, and manufacture silicon-anode lithium-ion batteries using proprietary 3D cell architecture, which Enovix claims allows its batteries to achieve higher energy density. On July 14, 2021, Enovix was officially acquired by Rodgers Silicon Valley Acquisition Corp., a special purpose acquisition company (commonly known as a SPAC or blank-check company). Just months before the merger, Enovix received key equipment to establish its first manufacturing line at its "Fab-1" facility in Fremont, California.

The Enovix class action lawsuit alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose material adverse facts about Enovix's revenue and ability to manufacture its proprietary battery technology. For example, as the Enovix class action lawsuit alleges, Fab-1's supposedly "automated" manufacturing lines were beset by problems that required significant manual intervention to produce batteries. In addition, machines that were meant to yield 550 batteries per hour could only complete around 100.

On November 1, 2022, Enovix announced it realized just $8,000 in revenue for the third quarter of fiscal year 2022. Enovix also revealed that it would be "dialing back" its work on improving existing manufacturing lines to focus on its future manufacturing lines. Additionally, Enovix revealed it anticipated producing fewer than one million batteries in 2023. On this news, Enovix's stock price declined approximately 44%.

Then, on January 3, 2023, defendant Thurman J. Rogers, Enovix's Executive Chairman, revealed that Enovix's second production facility and future manufacturing lines would be delayed by several additional months because of equipment failures. On this news, Enovix's stock price declined an additional 41%, further damaging investors.

Robbins Geller has launched a dedicated SPAC Task Force to protect investors in blank check companies and seek redress for corporate malfeasance. Comprised of experienced litigators, investigators, and forensic accountants, the SPAC Task Force is dedicated to rooting out and prosecuting fraud on behalf of injured SPAC investors. The rise in blank check financing poses unique risks to investors. Robbins Geller's SPAC Task Force represents the vanguard of ensuring integrity, honesty, and justice in this rapidly developing investment arena.

https://www.prnewswire.com/news-releases/investor-notice-enovix-corporation-fka-rodgers-silicon-valley-acquisition-corp-investors-with-substantial-losses-have-opportunity-to-lead-the-enovix-class-action-lawsuit---envx-301716989.html

[XenaLives]

They do have marketed product:

https://www.enovix.com/products/

[XenaLives]

Management shakeup:

Enovix Announces CTO and CCO Transitions
Jan 23, 2023
Download PDF
FREMONT, Calif., Jan. 23, 2023 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), the leader in the design and manufacture of next generation 3D Silicon™ Lithium-ion batteries, today announced that Ashok Lahiri will retire as Chief Technology Officer (CTO), effective February 1, 2023, but will continue to support the company by leading its technical advisory board, in addition to other advisory and support roles.

Enovix also announced that Chief Commercial Officer Cam Dales will also depart on February 1, 2023. Ralph Schmitt, Enovix’s current Senior Vice President of Sales and Business Development, will succeed Dales as Chief Commercial Officer, also effective February 1, 2023.

“Enovix is fortunate to have a strong team in place to execute on our plans to take our groundbreaking battery technology and scale up manufacturing in the coming years,” said Raj Talluri, President and CEO of Enovix. “I want to thank Ashok and Cam for putting Enovix in a leadership position and I look forward to Ashok’s continuing involvement.”

Talluri continued, “As we move this breakthrough technology from the business development phase to the volume production phase, an organization that is nimble and customer focused is what Enovix needs. Collapsing all commercial functions under an experienced leader like Ralph is ideal.”

Lahiri said, “I believe Enovix has the technology to win, and I want to remain close to it with my new advisory role. After spending the last 16 years building the company from scratch, now is a good time for me personally to retire from the CTO position as Enovix has a seasoned, well-established engineering and technical leadership team.”

Dales said, “After almost 14 years building our commercial strategy and team, now is a good time for me personally to step aside. Enovix customers and partners are in great hands with Ralph leading the commercial team and Raj positioning the company to scale.”

Schmitt has served in his current role at Enovix since January 2021. Prior to joining Enovix, he served as CEO of multiple semiconductor companies, including PLX Technology (acquired by Broadcom) and OCZ Technology (acquired by Toshiba). Schmitt spent the earlier part of his career at Cypress Semiconductor, including as Executive Vice President of Sales, Marketing and Business Development.

https://ir.enovix.com/news-releases/news-release-details/enovix-announces-cto-and-cco-transitions

[XenaLives]

Safer L-ion battery..

When a conventional lithium-ion battery is pierced or severely damaged, a short can occur, discharging the cell in microseconds and potentially releasing a violent and often fiery chain reaction. It’s called thermal runaway and, well, it’s bad. That’s why we created BrakeFlow™, an intra-cell system that increases abuse tolerance.

It wasn’t enough to reimagine the lithium-ion battery, we’ve also introduced a whole new level of safety.

https://www.enovix.com/brakeflow/

[XenaLives]

Rough chart...

[XenaLives]

True claim or excuse for shorting?

This lawsuit is on behalf of all investors who purchased or otherwise acquired Enovix common stock (or Rodgers Silicon Valley Acquisition Corp. common stock prior to July 15, 2021) between February 22, 2021 and January 3, 2023, inclusive.

Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until March 7, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to the lawsuit, the Company made false and misleading statements to the market. Specifically, Enovix overstated its ability to produce batteries at commercial scale. Despite touting its "meaningful progress" in developing its manufacturing capabilities, Enovix continued to face serious production problems. Based on these facts, the Company's public statements were false and materially misleading throughout the class period.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

https://ih.advfn.com/stock-market/NASDAQ/enovix-ENVX/stock-news/90076431/envx-shareholder-alert-jakubowitz-law-reminds-eno

[Roily23]

This is a big deal

https://investorshub.advfn.com/secure/post_new.aspx?board_id=40615

https://ir.enovix.com/node/8711/html

[_-Abe-_]

Anyone else swing trading this?

[6of1]

I saw it buddy This is a long hold

[Roily23]

Not that anyone is going to see this but it is over $24 as I type.

[Roily23]

analyst out with $500 price targets, wake up people.

[Roily23]

Starting to get interesting.

[makinezmoney]

$ENVX: Over 20k May $15 calls taken yesterday

Bigggggggggggggg volume there.


Prem now at $0.59


Let see whats coming





GO $ENVX

[Brokemillwright]

Ouch

[Roily23]