Maybe they could do more, but they've definitely done plenty....

Maybe they could do more, but they've definitely done plenty. The market cap as of today is still $900m, nothing to sneeze at for a company that is still very speculative. I think NVX became a victim of its own hype when that huge bull-run took the market cap well beyond reasonable levels. The crash from $10 makes a $2 SP feel catastrophic, makes the company feel undervalued, but maybe we only feel that way because the hype run wrongly calibrated expectations.

Ignore the hype-run, pretend it's June 2021 and the SP is $2.20. Then consider everything material that has happened since... the newsflow, progress of the company, graphite prices, synthetic graphite sentiment, macro factors in America and so on. What's the new fair price? I think almost everyone will say it's above $2, the optimists might say $3-5? But I doubt many will say it's above $5, let alone $10. This isn't something I've made up with the benefit of hindsight, I regrettably sold at $4-5ish thinking it was overcooked right at the start.

I put my money where my mouth is and I bought back in at $2.6 recently thinking that was reasonable enough. That didn't work out great for me, so this isn't a bit "told-ya-so" because I haven't played my cards very well either. Just food for thought I suppose. The price feels decimated today but I try to compare current SP to the SP as it was before everything hit the fan. Doing this little thought exercise helps me put things into perspective. I was a on the fence for a long time but now I think it's a good time to be buying again.