One of today’s biggest movers is once again Ideanomics (NASDAQ:IDEX) stock. Today’s move of more than 20% higher in IDEX stock is intriguing, as the company could potentially be headed for delisting.
As InvestorPlace covered in yesterday’s session, IDEX has clearly been on a roll in recent days. Yesterday, the company saw an intraday surge of more than 90% despite headwinds. In fact, over the past two days, IDEX stock has surged from around 2 cents to nearly 6 cents at the time of this writing.
This is a very speculative stock, to be sure. And there are reasons why the company’s valuation has sunk to basically zero. The latest filing from Ideanomics suggests that the company may be delisted in short order, although high short interest has kept speculators around, playing various bounces near zero.
Ideanomics has said it will request an appeal hearing to contest what would have been a delisting on May 1. The delisting would have been due to IDEX stock trading at or less than 10 cents per share for more than 10 consecutive trading days. While it’s unlikely we’ll see a surge above the 10 cent level from here, considering the ride that shares have been on of late, anything’s possible. Thus, this is perhaps the most closely watched speculative stock in the market right now.
Most big money investors are out of this name. But let’s dive into which institutions are still holding IDEX stock right now.
Top 5 Biggest Investors in IDEX Stock
According to Yahoo Finance, here are the top five institutional investors in Ideanomics:
- State Street (NYSE:STT) owns 10.28 million shares, worth 1.31% of the company.
- Renaissance Technologies owns 1.35 million shares, or 0.17% of the company.
- Citadel Advisors owns 1.11 million shares, or 0.14% of the company.
- Susquehanna International owns 790,684 shares, or 0.10% of the company.
- Brown Advisory owns 656,604 shares, or 0.08% of the company.
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On the date of publication, Chris MacDonald did not hold (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 InvestorPlace.com Publishing Guidelines.
