Enovix Corporation Shares Are Up Today: What's Going On?

Shares of Enovix Corporation ENVX are trading higher Friday after the company shipped its first samples of the second-generation EX-2M battery to mobile phone customers.

The samples were manufactured at the company's Malaysian Fab 2 plant and demonstrated an energy density improvement of approximately 10% compared to the first-generation EX-1M batteries.

The batteries are scheduled for a 2026 launch and are expected to maintain the company's energy density advantage in the smartphone industry. The company also received its first purchase order for custom battery samples from a mobile phone customer under a non-disclosure agreement.

CEO Raj Talluri confirmed that the company remains on schedule to complete site acceptance testing for the high-volume manufacturing line at the Malaysian facility by the end of the month.

ENVX Price Action: Enovix Corporation shares were up 21.2% at $9.72 at the time of writing, according to Benzinga Pro.

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Photo Credit: Courtesy of Enovix Corporation.