logo
Plus   Neg
Share
Email

Stock Alert: Novonix Skyrockets

Shares of Novonix Ltd. (NVNXF) are soaring more than 234 percent or $3.09 in Tuesday's morning trade at $4.40. Australia-based Novonix is a supplier of battery materials, equipment and services to the lithium-ion battery market.

Monday, Novonix published its annual report to shareholders, noting that fiscal 2020 proved to be a banner year for the company as it signed deals with two of the world's largest battery manufacturers, Samsung SDI and Sanyo/Panasonic. The company has also secured funding to expand production to 2,000 tonnes per annum or tpa progressively over 2020 and 2021.

The company added that in fiscal 2020, Novonix Battery Technology Solutions or Novonix BTS achieved more than 100 percent year-over-year revenue growth and announced battery technology developments including Dry Particle Micro Granulation (DPMG) and Single Crystal Cathode (SCC).

Novonix has traded in a range of $1.82 to $4.85 in the past 52 weeks.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Procter & Gamble's skincare brand Olay will debut its first float in the 94th Annual Macy's Thanksgiving Day Parade to be held on November 26 this year. To highlight the low representation of women in the STEM or science, technology, engineering, and math jobs, Olay said that its Thanksgiving Day Parade float will feature a 'Women in STEM' theme. Alternative meat producer Impossible Foods is debuting its flagship product this week in Asian grocery stores. The plant-based meat products will go on sale at about 200 grocery stores in Hong Kong and Singapore, its first grocery foray outside the U.S. Impossible Beef was the flagship product which made its worldwide grocery store debut in 2019. Ahead of the upcoming holiday season, Lowe's Companies Inc. is launching competitive deals urging customers to "gift back" to their home, the place that has meant so much this year amid the coronavirus pandemic. The home improvement retailer is introducing a new Season of Savings, beginning earlier than ever on October 22.
Follow RTT