Batteries | StableBread's Newsletter

Batteries

FLNC

Jul 19, 2026

Top-Three BESS Below 1x Sales

Fluence cut guidance twice in one year and still missed. The stock now trades under 1x FY2026 revenue with a record $5.6B backlog, two hyperscaler MSAs, and a spot in NVIDIA's AI factory reference design.

ENVX

Jul 13, 2026

Battery Test Worth Billions

Enovix makes the "highest energy density smartphone battery ever independently tested" and already ships cells for smart eyewear and drones. But smartphone qualification is two years behind, continued burn and dilution are inevitable, and insiders have only sold.

Special Situation

May 24, 2026

Solar Microcap AI Power Pivot

PowerBank's history is ugly and it operates just 35 MW of solar today, but its sites, permitting relationships, and a recent LOI open a real path into the AI buildout's bottleneck: power delivery