Q: Any idea whats goin on here? thx James
5i Research Answer:
NEXT is moving towards a supply deal with Posco, and has said it may receive an investment from the S. Korean company. It raised $50M in August ($1.65 per share). In June it filed its restated financials. Its first production facility is in Madagascar, scheduled for production in Q2 2024. The financial statement issues, financings and other issues have hurt the stock this year. But the potential offtake agreement has sparked some more interest. It has no revenue yet and cash flow remains negative, so it needs to be considered very speculative. We would prefer to wait here.