IDEX Stock Summary and Trading Ideas (Ideanomics | NASDAQ:IDEX)

Ideanomics Inc is an American multinational company engaged in accelerating the commercial adoption of electric vehicles. The company conducts its operations in one segment with three business units; Ideanomics Mobility's focus is electric vehicles, including mid and last-mile delivery trucks and vans, tractors, and two-wheelers. There are five operating companies within the Ideanomics Mobility business unit: VIA, Energica, Solectrac, United States Hybrid, and Tree Technologies, Ideanomics Energy's focus is charging and energy-related products and services, and Ideanomics Capital's focus is providing financing support for the Company's Mobility and Energy business units. Geographically, the company operates in North America, Asia, and Europe.

Ideanomics trades on the NASDAQ stock market under the symbol IDEX.

As of May 2, 2024, IDEX stock price declined to $0.97 with 116,658 million shares trading.

IDEX has a beta of 0.12, meaning it tends to be less sensitive to market movements. IDEX has a correlation of 0.00 to the broad based SPY ETF.

IDEX has a market cap of $11.61 million. This is considered a Sub-Micro Cap stock.

In the last 3 years, IDEX stock traded as high as $451.25 and as low as $.75.

The top ETF exchange traded funds that IDEX belongs to (by Net Assets): VXF, CCSO, SPEM.

IDEX has underperformed the market in the last year with a return of -84.0%, while the SPY ETF gained +23.2%. In the last 3 month period, IDEX fell short of the market, returning +0.4%, while SPY returned +3.6%. However, in the most recent 2 weeks IDEX has outperformed the stock market by returning +18.9%, while SPY returned +0.9%.

IDEX support price is $.92 and resistance is $1.03 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that IDEX stock will trade within this expected range on the day.