Stock News in Focus: Ideanomics (NASDAQ:IDEX)

Ideanomics (NASDAQ:IDEX) stock observed trading -80.63% off 52-week high price. On the other end, the stock has been noted 99.28% away from low price over the last 52-weeks. The stock disclosed a move of 4.62% away from 50 day moving average and -55.41% away from 200 day moving average. Moving closer, we can see that shares have been trading 44.22% off 20-day moving average. It has market cap of $68.32M.

On March 23,2020, Ideanomics (NASDAQ:IDEX) is pleased to announce a strategic framework agreement with leading EV heavy truck and bus manufacturer, BeiBen Heavy Truck Co. Ltd (BeiBen). The framework agreement is designed to establish a long-term strategic partnership that will create a strategic platform to increase the speed and efficiency of commercial vehicle adoption. The framework agreement is preliminary in nature and its implementation will be subject to legally binding definitive transaction documents to be negotiated and entered into between Ideanomics and BeiBen.

Under the agreement, BeiBen will provide electric heavy truck manufacturing, research and development, sales, operations, and other resources. MEG will provide its existing new energy vehicle platform including its financial services network, marketing capabilities, government relationships, and partners upstream and downstream including in Southeast Asia.

The USA based company Ideanomics moved with change of -1.87% to $0.55 with the total traded volume of 2490604 shares in recent session versus to an average volume of 810.18K. The stock was observed in the 5 days activity at 46.55%. The one month performance of stock was 8.16%. IDEX’s shares are at -27.19% for the quarter and driving a -69.44% return over the course of the past year and is now at -35.73% since this point in 2018.  Right now the stock beta is 2. The average volatility for the week and month was at 56.82% and 26.14% respectively. There are 124.22M shares outstanding and 111.88M shares are floated in market.

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