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Stock impact report

Enovix (ENVX) Jumps 11.4% on US Govt Lithium Industry Backing [Yahoo! Finance]

Enovix Corporation (ENVX) 
Company Research Source: Yahoo! Finance
Shares of Enovix Corp. jumped by 11.43 percent on Wednesday to close at $11.11 apiece as investor sentiment was bolstered by the US government's support for the local lithium industry. Enovix Corp. (NASDAQ:ENVX) rallied alongside its counterparts, supported by the US government's acquisition of a 10 percent stake in Lithium Americas and its subsidiary, in line with plans to boost domestic supply and reduce the country's reliance on imports. Enovix (ENVX) Jumps 11.4% on US Govt Lithium Industry Backing Photo by Kumpan Electric on Unsplash The move sparked expectations that the government could be in the works for new policies to prop up the lithium industry, similar to other industries it considered vital to national security. At present, China is the world's largest lithium refiner. While focused on manufacturing lithium-ion batteries, Enovix Corp. (NASDAQ:ENVX) stands to benefit from the Trump administration's initiatives to ramp up domestic lithium manufacturing, as the m Show less Read more
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