The slow death of Magnis Energy shows plenty wrong with the ASX

Magnis Energy Technologies has been producing commercial quantities of the most cutting-edge electric vehicle batteries for one year, eight months and two days. At least, that’s what it says on the ASX.

The, err, rivers of gold from the company’s New York plant have been such a success that Magnis Energy shares were last changing hands at 4.2¢, down from 48¢ in 2022.

And that’s when they were trading at all – in December.