Shares of Enovix Corporation (ENVX) jumped over 18% on Tuesday morning after the company announced that it secured a landmark purchase order for silicon batteries.
ENVX is currently trading at $14.81, up $2.35 or 18.91%, on the Nasdaq. The stock opened its trading at $14.22 after closing Monday at $12.46. The stock has traded between $5.70 and $18.68 in the past 52-week period.
The order is for a cutting-edge battery solution tailored for next-generation head-worn Mixed Reality (MR) wearables. These batteries will support the revolution of smart glasses, augmented reality devices, and other pioneering products in the MR space.
Under the terms of the agreement, Enovix is scheduled to deliver initial shipments by mid-2025, solidifying its position as a leader in delivering breakthrough battery solutions.
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