Business

Stock News Spotlight: Ideanomics, (NASDAQ:IDEX)

Ideanomics, (NASDAQ:IDEX) stock identified change of 227.46% away from 52-week low price and recently located move of -68.18% off 52-week high price. It has market worth of $153.09M. IDEX stock has been recorded 58.08% away from 50 day moving average and -23.68% away from 200 day moving average. Moving closer, we can see that shares have been trading 34.37% off 20-day moving average.

On April 7, 2020, Ideanomics, (NASDAQ:IDEX) is pleased to announce that MEG ‘s energy sales unit has deployed a pilot platform in Nanjing, China which will focus on streamlining the operational aspects of EV energy sales and consumption and will serve as a blueprint to a broader roll-out in both Nanjing, and across other major cities in China.

To date, most of MEG’s deals have been focused on commercial EV sales. Its long-term China strategy is to generate revenues from energy sales from electric vehicles (EVs). The pilot platform will be in Nanjing, Jiangsu Province, and is designed to streamline the interoperability between payment systems, charging stations, and energy supply chains. Combined, the energy sales pilot platform in Nanjing will enable MEG to generate revenues from pre-paid energy sales to commercial EV fleet operators as well as revenues from point of sale energy consumption at charging an fast-charging stations.

The city of Nanjing’s proximity to MEGs Qingdao facilities will enable MEG to gather feedback and deploy changes to the pilot program quickly and efficiently. Nanjing, with a population of approximately 8.5 million, is a high-profile, modern city, suitable for such a pilot, and is an industrial technology research and development hub that has attracted foreign investment from firms such as Siemens, Ericsson, Volkswagen, Ford, IBM, Lucent, Samsung, and SAP, who have research centers in Nanjing.

The Technology sector company, Ideanomics noticed change of -7.05% to $0.9 along volume of 807281 shares in recent session compared to an average volume of 1.17M. The stock observed return of -32.55% in 5 days trading activity. The stock was at 201.27% over one month performance. IDEX’s shares are at 11.90% for the quarter and driving a -54.12% return over the course of the past year and is now at 5.62% since this point in 2018.

The average volatility for the week at 26.45% and for month was at 34.20%. There are 169.39M shares outstanding and 111.88M shares are floated in market. Right now the stock beta is -1.52.

Leave a Reply

Your email address will not be published. Required fields are marked *