Enovix Authorized To Repurchase Up To $60 Mln Of Shares; Stock Up Over 8%

(RTTNews) - Enovix Corporation (ENVX), a high-performance battery company, said on Wednesday that its Board has authorized a share repurchase program to buy back up to $60 million of shares.

Ryan Benton, CFO of Enovix, said: "This repurchase program reflects our confidence in the company's long-term fundamentals and the strength of our 100% silicon-anode battery technology. It also underscores our commitment to delivering long-term shareholder value."

The repurchase program will provide the company greater flexibility to manage its capital structure and face market volatility.

This buyback authorization is effective from June 30, 2025, and any unused capacity will expire on December 31, 2026.

ENVX was up by 8.18% at $10.98 on the Nasdaq.