Why Is Enovix Stock Falling Friday?

November 13, 2026 Akanksha Bakshi

Summary

Enovix shares dropped on Friday following the release of the company's third-quarter earnings report. Investors reacted to a larger quarterly loss, workforce reductions, and the termination of smartphone battery testing, which overshadowed higher revenue and increased customer demand.

Enovix Corporation (NASDAQ:ENVX) stock fell Friday as investors weighed the battery maker’s wider quarterly loss, workforce cuts and decision to end smartphone battery testing. The stock plunged despite stronger revenue and growing demand for batteries manufactured outside China. During Thursday’s third-quarter 2026 earnings call, executives highlighted rising demand from defense and drone customers. They also outlined plans to prioritize smart…

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