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FREMONT, Calif. - Enovix Corporation (NASDAQ:ENVX) announced Thursday the appointment of J. Daniel "Dan" McCranie to its Board of Directors, effective August 12, 2025, expanding the board to eight members. The announcement comes as the company’s stock trades at $2.25, having experienced a challenging year with shares down about 61% year-to-date, according to InvestingPro data.
McCranie brings over three decades of experience in public-company governance and operational leadership across the technology sector. He previously served as Chairman of the Board at onsemi and as Non-Executive Chairman of Freescale Semiconductor.
His extensive background includes board and leadership positions at numerous technology companies including Cadence, Virage Logic, Actel, and Cypress Semiconductor, where he also served as Executive Vice President of Sales and Marketing.
Currently, McCranie serves as a director at SunPower Corporation, chairing its Compensation Committee, while also holding the position of Executive Vice President of Sales at the company.
"Dan is a high-impact operator and board leader with deep experience scaling complex technology businesses," said Raj Talluri, President and Chief Executive Officer of Enovix, according to the company’s press release.
McCranie’s appointment comes as Enovix, which specializes in silicon-anode battery technology, continues its commercialization and manufacturing expansion efforts. The company develops lithium-ion batteries designed to deliver higher energy density and improved safety for applications ranging from wearable electronics to electric vehicles.
With McCranie’s addition, six of the eight Enovix board members are now independent directors. The information in this article is based on a company press release statement and market data from InvestingPro, which offers comprehensive financial analysis and real-time market insights for informed investment decisions.
In other recent news, Enovix Corporation announced that its common stock has surpassed the $10.50 mark for five consecutive trading days. This development may lead to an early expiration of its warrants, which have an exercise price of $8.75. The company’s stock closed at $15.06 per share, putting these warrants in-the-money. This financial milestone is significant as it affects the potential execution of warrants distributed earlier. The company did not provide additional details regarding the timeline for any potential warrant expiration. Investors and analysts are closely monitoring these developments for further updates.
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