Here is one bold statement, Ideanomics Inc (NASDAQ:IDEX) shares will not go below $2.00 anymore.
Here is why I think so.
While hovering around $1 was something normal for IDEX stock prior to acquiring another stake in E-Tractor company Solectrac from California, I am sure we will not see IDEX below $2 anymore. The last week announcement showed even the biggest doubters that Ideanomics is actually a real company with real money.
And a visionary idea.
While many investors were sure how Mr. Alf Poor, CEO of Ideanomics, will make all IDEX investors poor, they came back with a vengeance. While everyone was thinking how IDEX is fake-it-till-you-make-it company, they showed us how they are actually PIVOT till you make it company.
Ideanomics used to be a video content company that expanded into blockchain-based financial tech before switching to EVs last year. The company has also dabbled in commodities and cryptocurrency trading.source
So, changing business models means two things. This is a very volatile stock and investing in their shares is at your own risk. The other thing is- where is volatility there is a huge upside potential. But owners might be onto something this time. With Biden being a new U.S. president clean energy plays, such as Ideanomics, are getting more popularity as the time goes by. And IDEX is one of the rare EV plays still under $1B market cap.