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Here’s What you Should Know About Declining Ideanomics, Inc. (IDEX) Stock in Pre Market

Ideonomics, Inc. (IDEX) is an international company which primarily focuses on merging of the industries and corporations which are undergoing fintech troubles. Also, the company’s mobility division offers commercial electric vehicle’s acquisition, financing and leasing by commercial fleet operators. Along with the acquisition, IDEX also emphasizes on energy management solutions using an innovative corporate model namely sales-to-financing-to-charging (S2F2C).

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The price of IDEX stock in the regular trading session of December 16,2021 was $1.42 with a decline of 3.40%, while at last check, the stock further sharply declined by 4.53% in the pre market.

Events and Happenings

On December 7, 2021, Solectrac which is a subsidiary company of IDEX, reported to be privileged as one of the victors of World Ag Expo’s Top 10 New Product Competition for its innovative e70N battery-operated electric tractor. Solectrac main emphasis is solutions related to customer’s e-mobility, charging, and related energy consumption.

On November 30, 2021, JUSTLY which is a subsidiary of IDEX, reported about its collaboration with Invest Green, Inc. to provide company’s investors with clean technology investment prospects. Invest Green’s Research Bites newsletter and investment opportunities will prove to be beneficial for JUSTLY clients.

On November 29, 2021, Energica, a subsidiary of IDEX, informed about the expansion of its network to 20 battery powered electric motorcycles. Energica is one of top producer and supplier of high-performance battery powered electric motorcycles which are manufactured in Italy. On November 24, 2021, IDEX reported that Solectrac was awarded with the WINnovation Prize at WIN Expo 2021 on December 2, 2021.

Key Financials

On November 23, 2021 IDEX reported its third quarter 2021 financial results for the quarter ended September 30, 2021. Some of the key highlights are

Revenue

Revenue for the third quarter 2021 was reported to be $27 million as opposed to the revenue of same period prior year which was $10.6 million.

Total Assets

The total assets of the company were reported to be $595 million for Q3 2021. The total assets for the company during Q3 2020 were $4225 million.

Net Loss per Share

Basic and diluted net loss was reported to be $50 million or $0.11 per share for Q3 2021. For Q3 2020 it was $8 million or $0.03. The net loss increased over the period of the year.

On November 4, 2021, IDEX reported that its subsidiary WAVE will showcase its handsfree electric vehicle charging system at APTA TRANSform Conference & Expo 2021.

Conclusion

IDEX, through its subsidiaries is creating waves in the field of electric vehicle technology. The decline of 24% in the company’s stock from the past month is due to uncertain market conditions. The company is making its efforts in the form of different collaborations and pipeline projects. The analysts are quite confidant about the company’s stock to soon rise in the market.

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