Enovix Corporation (ENVX)

Investigation

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims against Enovix Corporation (“Enovix” or the “Company”) (NASDAQ: ENVX). Investors who purchased Enovix securities are encouraged to obtain additional information and assist the investigation.   

 

The investigation concerns whether Enovix violated federal securities laws.

 

After the close of trading on November 1, 2022, Enovix announced its 2022 third-quarter financial results, which fell significantly below expectations. Specifically, the Company reported a net loss of $23.2 million, or $.15 per share.  The Company further stated that recorded revenue was $8k, as opposed to analyst estimates of $0.4M, “which consisted of a modest number of batteries shipped to customers for qualification programs and pre-production end-product builds[,]” and that “[t]he majority of batteries shipped during the quarter were samples that did not generate revenue.”  On this news, Enovix’s stock price fell $7.46 per share, or 41.47%, to close at $10.53 per share on November 2, 2022.

 

If you are aware of any facts relating to this investigation or purchased Enovix securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

 

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits.  The firm has recovered hundreds of millions of dollars for investors nationwide.  Attorney advertising. Prior results do not guarantee similar outcomes.