Enovix: The Company Is Still On The Right Track
A Flurry Of Recent News Has Me Thinking About Adding To My Position
It’s been a weird week in the market, as meme stocks have decided to make a comeback. This tweet by Roaring Kitty (not a sentence I ever thought I would type), sent GameStop GME 0.00%↑ and AMC Entertainment AMC 0.00%↑ flying. I’m not going explain why the markets are not efficient, but I think we can safely say that the Efficient Markets Hypothesis is just that: a hypothesis.
Another stock with high short interest, and one that I find more interesting than those two businesses which are probably destined for bankruptcy, is Enovix ENVX 0.00%↑. It’s admittedly more speculative than most of the stocks in my portfolio, but a flurry of recent news makes it seem like things are headed in the right direction for them to reach production. Shares haven’t been quite as volatile as the meme stocks, but the last couple weeks have been bumpy to say the least. It’s worth going over several of these news items to see what has been happening recently with Enovix.