Reality is this. (rather long rant)
$ENVX screwed up & miscalculated the market reaction. There have been delays and mgm't failed to keep investors in the loop.
When you look at Gen 2 battery road map about a year ago, phase 1 was going for cycle life improvement from 500 to 700 with 15% energy density. Phase 2 was aiming for 1,000+ cycle life and 30%-40% energy density.
It turns out, customers were only interested in phase two (1,000 cycle life & more than 30% energy density advantage) so
$ENVX had to scramble, and this caused some delays. Mgm't probably thought they can make the jump quick enough and didn't want to disappoint the shareholders???
What's important is, they got there, but testing 1,000 cycle life takes longer time than 500 or 700 cycle life.
Clearly, "Honor" the 3rd largest cell phone maker in China is comfortable enough to allow
$ENVX to use their name, so their PO is matter of time. There are two others in similar phase. (One more phone maker & AR/VR glass maker) who also can make PO announcement any day...But no one cared today.
They are starting to build battery production capacity in Seoul Korea (300k sqft) to meet the upcoming demand for military use (both South Korea & USA) But no one cared today.
With over $630mil in cash on their balance sheet, stock won't stay below $10 for long, but I have to admit, mgm't should have handled this bettter.
I'm pissed but I added more today. The progress they are making is real and as many believers have been saying all long, 2026-2027 is the year Enovix becomes a monster. Till then, I will be the boy who cried wolf.