10 Stocks Under $10 with High Potential

5. Enovix Corporation (NASDAQ:ENVX)

Price: $8.02

Upside Potential: 111.97%

Number of Hedge Fund Holders: 32

Enovix Corporation (NASDAQ:ENVX) is one of the Stocks to Buy Under $10 with High Potential. On January 13, Enovix Corporation (NASDAQ:ENVX) announced results from an independent lab confirming that its AI-1 smartphone battery achieved a volumetric energy density of 935 Wh/L.

Management noted that energy density surpasses a leading commercial silicon-doped competitor by roughly 100 Wh/L, thereby marking a significant milestone. The tests were conducted by Polaris Battery Labs, which is an independent battery testing firm. The trial was conducted in identical conditions, equipment, and procedures. The results validated Enovix Corporation’s (NASDAQ:ENVX) claims as AI-1 beat the leading smartphone battery by 12%.

Management noted that their patented architecture uses 100% active silicon anodes. This harnesses silicon’s superior energy storage while managing expansion in scalable formats. CEO of Enovix Corporation (NASDAQ:ENVX), Dr. Raj Talluri, noted that it was a significant improvement and highlighted that their AI-2 and AI-3 are expected to hit the market later in the decade.

Enovix Corp (NASDAQ:ENVX) designs and manufactures lithium-ion battery cells that have applications across mobiles, IoT, electric vehicles, and computing devices. These batteries are highly efficient with supreme thermal performance, and an architecture that allows for 100% active silicon anode for high energy density.