The shares of Ideanomics Inc (IDEX), a company until recently struggling to keep itself listed on Nasdaq, have added 200% since Friday.
The surge has come following a string of operational advancements and investments announced by the company and stock pumping on social media.
$IDEX I don’t want to see anyone selling at $2-$3! This will easily go to $5-$10! Just look what happened with Solo! If half a car can go above $10 then so can we!— Penny Stock King (@PennyStockKNG) November 22, 2020
But once troubled company is finally on a good road to choose a niche for itself. And a niche that is a niche within a niche. No less than Electric Tractors.
Ideanomics announced yesterday that it has increased its stake in California-based Solectrac, Inc. which produces zero-emission alternative to diesel tractors.
This additional investment reflects investment interest in Solectrac by ESG funds which is expected to close in the coming weeks. As a reminder, on October 22, 2020, the Company announced that it acquired 14.7% of Solectrac, Inc. for the consideration of $1.3 million. Since this announcement, Solectrac experienced an increase in product and investment inquiries.source
CEO of Ideanomics Alf Poor explains in a recent interview with Clean Technica why he decided to go with Solectrac. It is because of his interest in the specialty vehicle market and its path to electrification. Due to the short-haul nature of tractors and the large global market, Alf explains that Solectrac has the perfect combination of expertise, patents, and proven product-market fit. Steve Heckeroth, founder of Solectrac,, he added, was the perfect person to be pushing this technology forward.
So, knowing that IDEX stock is trading 40% higher during Tuesday morning pre-market session (compared to Monday closing), there is only one thing that we should ask ourselves- Is this the greatest comeback in the NASDAQ history?