10 Stocks Crushing Market Expectations

Page 9 of 9

1. Enovix Corporation (NASDAQ:ENVX)

Enovix rallied for a third day on Monday, jumping 14.4 percent to close at $13.03 apiece following the announcement of a special dividend in the form of warrants to shareholders as of July 17, 2025.

According to the company, each stockholder of record as of the record date will receive one warrant for every seven common shares held. Each warrant will entitle the holder to purchase one share of common stock at an exercise price of $8.75 per share. The warrants may be exercised only for cash.

In addition, holders of the company’s 3-percent convertible senior notes due 2028 as of the record date will receive warrants on a pass-through basis, as provided under the indenture governing the convertible notes.

Enovix Corporation (NASDAQ:ENVX) said payments will be made on or around July 21, 2025, and that it expects to raise $253.8 million of gross proceeds from the exercise.

While we acknowledge the potential of ENVX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ENVX and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email below.

Page 9 of 9