Shares in a little known ASX-listed maker of battery technology for electric vehicles and energy storage systems have gone on a tear in recent weeks amid twin rumours of a deal with Tesla and the US government.
Novonix’s shares took off shortly after it announced it was tapping its shareholders in a fully underwritten $58.28 million raising by issuing new shares at 29 cents, a 56 per cent discount to the last traded share price. It said this week the raising was oversubscribed. The November 21 statements failed to excite Novonix’s shares which fell 1¢, or 3 per cent, to 36¢. Novonix did get a 8.6 per cent boost to its share price in December when it announced that it had sealed a supply deal with Samsung SDI which in turn supplied batteries, but that share price jump was still far below the June 9 spike.
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