Why Enovix Stock Topped the Market on Tuesday
Investors in tech hardware makers often get excited when their companies roll out new products, and that was the situation with Enovix (NASDAQ: ENVX) on Tuesday. The maker of cutting-edge silicon batteries introduced its latest offering, a move that was met with a nearly 4% bump in its share price. That was more than good enough to outpace the S&P 500 index, which got a comparatively modest 0.7% lift on the day.
Prior to market open today, Enovix announced the general availability of said product, its standard-sized Internet of Things (IoT) and wearables cell.
That wouldn't be impressive in and of itself in a market full of such goods. The difference is that, according to the company, it has a capacity advantage that can be up to double that of current offerings from rivals.
Source Fool.com
