Dear IDEX Stock Fans, Pay Attention to This EV Charging News

Like many other innovative tech stocks, Ideanomics (NASDAQ:IDEX) has seen waning interest since the beginning of the year. After posting a rather impressive rally to more than $5.50 per share, right now investors can pick up shares of IDEX stock for under $2. Currently, IDEX is down approximately 4% on a mixed day in the markets.

idex stock: Concept art of an electric vehicle with a charging cord coming out.

Source: Shutterstock

This move continues rather bearish momentum among high-growth, early stage stocks. That said, Ideanomics’ business model is one that has some investors excited. At these levels, there’s an argument that can be made that the risk may definitely be worth the reward.

Indeed, Ideanomics’ focus on the convergence of financial services and technological disruption is attractive. The company has aimed to improve upon the current procurement model utilized for purchasers looking at electric vehicles. By integrating finance and leasing, energy management, and charging services, Ideanomics is attempting of facilitate the accelerated adoption of electric vehicles by fleet operators.

Sounds good to me.

However, today, investors are focusing on the charging portion of the company’s “sales-to-financing-to-charging” (S2F2C) model. Let’s dive into what investors are looking at with IDEX stock right now.

Why Investors May Want to Give IDEX Stock a Look

Yesterday, Ideanomics announced that its subsidiary, Wireless Advanced Vehicle Electrification, would collaborate with Kenworth on the development of wireless charging pads for Class 8 electric trucks. As a leading manufacturer of heavy-duty trucks, Kenworth stands to benefit from the potential for electrifying its fleet further. These proposed charging stations would be embedded in the roadway, providing quick charges of up to one megawatt of power.

Such a partnership appears to be perfect for Ideanomics, given the company’s mission statement. Indeed, if such a technology can be brought to a commercially viable state, Ideanomics could be a leader in long-distance charging. The hope would be to have these charging pads interspersed over long-distance trucking routes. This would allow large trucks to complete longer journeys without having to make long stops to recharge.

While this partnership is still in its early stages, investors looking for companies thinking about how to innovate may want to consider IDEX stock. This company is thinking outside of the box. Accordingly, this announcement may be intriguing for investors looking for a speculative EV-related play right now.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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