(Editor’s Note: New news since Friday has IDEX stock heading higher.)
Ideanomics (NASDAQ:IDEX) stock is on the rise Friday despite a lack of news coming from the fintech company.
The boost to Ideanomics comes as the company experiences particularly heavy trading of its shares. This includes some 61 million shares of IDEX stock changing hands as of this writing. That’s a massive jump compared to its average daily trading volume of 7.57 million shares.
So, Ideanomics is up on heavy trading, but why exactly are investors taking an interest in the company? While the reason is unclear, those eyeing IDEX stock will likely want to know more about it before diving in. Luckily, we have a quick breakdown below for interested investors.
- Ideanomics is a global company that focuses on financial tech and assisting in electric vehicle (EV) adoption.
- The company’s EV works comes from its Mobile Energy Global division.
- This offers “group purchasing discounts on commercial electric vehicles, EV batteries and electricity, as well as financing and charging solutions.”
- Its financial services are handled through its Ideanomics Capital division.
- The company says that this allows “clients to navigate hurdles and provides the infrastructure, tools, and advice to engage with the New Economy confidently.”
- Its headquarters is based in New York, N.Y. and it has offices around the world.
- Ideanomics was founded in 2017 as a business transformation of an already existing media company.
IDEX stock was up 30.8% as of noon Friday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.