Is Ideanomics (IDEX) A Buy Or Sell After The Receny Earnings?
4:09 pm Friday, May 21st, 2021
Ideanomics (NASDAQ:IDEX) has emerged as one of the more interesting companies in recent times for those who are interested in the sustainability space. The company is broadly focused on sustainability but it has also made investments in a range of diverse businesses in the meantime.
By way of that strategy, the company has also found success and that makes it a stock that could be added to the watch lists as far as the ESG (environmental, social, and governance) space is concerned. At this point, the Ideanomics has struck up partnerships with a number of companies and has completed mergers with some others.
By way of this mode of operation, the company now has a finger in a large number of important sectors in the sustainability market. The valuation of Ideanomics could be boosted further if the company manages to complete the buyout of a clean transportation business.
On the other hand, the stock has also corrected sharply from its peak levels and that could prove to be an opportunity for those who might be interested in investing in the renewable energy space. The company is based out of New York City and consists of two distinct divisions. One of those is the electric vehicle business known as Ideanomics Mobility and the other is the fintech industry service provider Ideanomics Capital.
However, we are more interested in the company’s efforts in the clean energy space. At this point, the company is expanding at a fairly impressive pace and has made some interesting moves in recent times.
Not too long ago, Ideanomics raised its ownership holding in the company Solectrac, which is involved in the development of farming tractors that are powered by batteries. On the other hand, Ideanomics also picked up a majority stake in the Malaysia-based electric vehicle company Treeletrik. The continued expansion of the company in this space has made it a compelling proposition for many and it could be a good idea to track the stock.
