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Why Shares of Enovix Powered 24.2% Higher in November

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Why Shares of Enovix Powered 24.2% Higher in November: https://g.foolcdn.com/editorial/images/757103/an-investor-smiles-while-sitting-at-a-table-with-a-laptop.jpg

After sinking 29% in October, lithium battery stock Enovix (NASDAQ: ENVX) bounced back in November and rose 24%, according to data from S&P Global Market Intelligence.

In addition to beating analysts' top- and bottom-line estimates for the third quarter, Enovix provided outlooks for the fourth quarter and full year that investors found promising.

While analysts expected it to book sales of $0.12 million, Enovix reported revenue of $0.2 million and an adjusted loss per share of $0.19, which was narrower than the $0.23 loss per share that analysts had anticipated.

Source Fool.com

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