Frey

United

Million

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>FREYR is and early-stage company that hasn’t generated any revenue yet.</a> </li> 
 <li> <span>2</span> <a>The company has received a grant of $112 Million for its vital project.</a> </li> 
 <li> <span>3</span> <a>The current share price of FREY is in a downtrend with the levels near an all-time low.</a> </li> 
</ul> 
<p>FREYR Battery SA (NYSE: FREY) facilitates the development of clean, next-generation battery cell production. It is a pre-revenue company, and therefore, it is not making any sales yet. In these types of companies, the profit and loss statement doesn’t display anything other than expenses.</p> 
<h2 class="wp-block-heading" id="strong-third-quarter-2023-results-strong"><strong>Third Quarter 2023 Results</strong></h2> 
<p>In the balance sheet, however, one can see that the company’s cash and equivalents are declining. The company is pre-revenue and is burying its funds in the operations every year. On the equity side, the firm’s reserves are in negative values as a result of negative net income.&nbsp;</p> 
<p>FREYR has faced delays in commissioning the Casting and Unit Cell Assembly equipment at the Customer Qualification Plant. However, the company has implemented a plan to prevent further delays. FREYR is prioritizing balance sheet strength, liquidity runway, and strategic agility. The company expects to exit 2023 with cash of approximately $250 million.</p> 
<h3 class="wp-block-heading" id="strong-frey-received-112-million-grant-strong"><strong>Frey Received $112 Million Grant</strong></h3> 
<p>The company is now surviving on funding it has raised; one of the significant recent funding was the $112.29 Million grant from the European Union to support the development of FREYR’s Giga Arctic project in Norway.</p> 
<p>However, FREYR has opted to minimize spending on the Giga Arctic project in 2024. The company is continuing to engage with potential financial sponsors and strategic partners about the Giga America project-level equity raise. FREYR is holding an extraordinary general meeting of shareholders on December 15, 2023, They are in the process of moving their company from Luxembourg to the United States.</p> 
<p>FREYR’s CEO, Birger Steen, prioritizes financial strength and market dynamics to navigate the volatile market. The company aims to develop and scale clean battery solutions with the help of its partners. Nidec’s Energy &amp; Infrastructure Division President, Laurent Demortier, expressed confidence in FREYR’s ability to reach automated production, and they remain committed to their long-term partnership.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-frey-stock-price-strong"><strong>Technical Analysis and Prediction of FREY Stock Price</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" decoding="async" width="1600" height="799" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-233.png" alt="FREY Stock: Is this Pre-Revenue Firm Worth Investing in?" class="wp-image-180447" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-233.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-233-300x150.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-233-1024x511.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-233-768x384.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-233-1536x767.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-233-360x180.png 360w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-233-750x375.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-233-1140x569.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   NYSE: FREY stock chart by <a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NYSE%3AFREY">Tradingview</a> (Daily time frame)
  </figcaption>
 </figure>
</div> 
<p>At press time, the FREY <a href="https://www.thecoinrepublic.com/2023/10/15/backed-by-strong-financials-cey-stock-price-rose-11-6-in-5-days/" target="_blank" rel="noreferrer noopener">stock price</a> is trading near its all-time low levels. Both the 50-day and 150-day EMA are above the current price, which is conforming to the downtrend. The immediate resistance from the current levels is at $6.48, while the support is the place where the bulls tried to show some strength, at $1.55. The prediction will be bearish until the company displays some significant fundamental change.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>FREYR Battery SA (NYSE: FREY)&nbsp; is a pre-revenue early-stage company. The firm is burning its funds in the operations. The FREY stock price is bearish until some strong fundamental results are posted from the company.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $1.55 and&nbsp; $0.7</p> 
<p>Resistance Levels: $6.48 and $9.29</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets or stocks comes with a risk of financial loss.</p>

FREY Stock: Is this Pre-Revenue Firm Worth Investing in?

Table of Contents

Thecoinrepublic.com

Other articles published on Nov 14, 2023

XRP giveaway scam, Ripple CEO issues warning

HIVE Digital Technologies Ltd. Enhances Bitcoin Mining Fleet with New ASIC Miners

Bitcoin Minetrix to Cross $4M Soon – 3 Days Left to Buy the Cloud Mining Token Before the Next Pr...

XRP Ledger Set For Major Shift With New Rippled V2.0

XRP price spikes after fake BlackRock ETF filing

Cryptocurrency Accounting Jobs - Building Careers in Web3

Join our free newsletter for daily crypto updates!