Enovix Prepares For Q3 Earnings: Analyst Sees Potential 'Squeeze,' But Technical Signals Raise Red Flags
Portfolio Pulse from Surbhi Jain
Enovix Corp (NASDAQ:ENVX) is set to release its Q3 earnings, with analysts predicting a 20-cent loss per share and $4.11 million in revenue. Despite a 60% stock increase over six months, technical indicators suggest short-term bearish momentum. High short interest could lead to a short squeeze if positive news emerges, but technical signals show potential selling pressure.
October 28, 2024 | 12:42 pm
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Enovix is preparing for its Q3 earnings with expectations of a 20-cent loss per share and $4.11 million in revenue. The stock has risen 60% in the past six months, but technical indicators suggest short-term bearish momentum. High short interest could lead to a short squeeze if positive news is announced.
Enovix's upcoming earnings report is crucial, with analysts expecting a loss. The stock's high short interest could lead to a short squeeze if positive news is announced. However, technical indicators show bearish momentum, suggesting potential short-term selling pressure.
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