Everspin's MRAM stock is seeing downward pressure as Kerrisdale highlights a significant valuation disconnect. Despite market enthusiasm around AI memory demands, Everspin operates in a different niche, maintaining stagnant revenues while trading at inflated multiples. Investors should be wary of the potential downside, projected at 60% from current levels.
Everspin Technologies reported better-than-expected Q1 results, with earnings surpassing estimates and revenue growth driven by industrial applications. The announcement of a $40 million contract further boosts investor confidence, despite conservative Q2 guidance that could temper enthusiasm.
