Why Is NOVONIX Stock Falling In Pre-market?

(RTTNews) - NOVONIX Limited (NVX) issued an update to the expected timing for commencement of mass production of anode material for its lead battery material customer, Panasonic Energy. The company still expects to begin mass production of industrial-grade graphite this year. Mass production of anode material for Panasonic is now expected to begin in the second half of 2027. The company previously indicated an expectation to begin mass production of battery-grade synthetic graphite for Panasonic and industrial-grade synthetic graphite for other customers in 2026.

NOVONIX entered into a binding off-take agreement with Panasonic for high-performance synthetic graphite anode material in February 2024.

In pre-market trading on NasdaqGM, NOVONIX shares are down 16.9 percent to $1.13.