- IDEX stock price falls a further -6.15% during trading day.
- Another day of retail investors cutting ties with the beleaguered company.
- After hours bump shows the stock still has a pulse.
NASDAQ:IDEX continued its retreat towards a sub $1.00 share price today with a further loss of -6.15%, ending the trading day at $1.22 per share. The loss marks a fourth consecutive day in the red for the once-promising electric vehicle company, and investors have continued to disown the stock in direct response to its poor performance. Ideanomics Inc. once again finds itself in the top five in the number of users who have sold the stock off on Robinhood today, a sure sign that retail investors may finally be fed up.
Despite the Nasdaq exchange rising another 97.73 basis points to finish at 10,488.58 on Tuesday, IDEX once again lagged behind the market and under companies in the electric vehicle industry. Rival Workhorse Group Inc. (NASDAQ:WKHS) shot up 6.87% after the target price was upgraded on Monday by analysts. Tesla (NASDAQ:TSLA), Ayro (NASDAQ:AYRO), and Nio (NASDAQ:NIO) all enjoyed positive days after a slight dip on Monday.
There was quite a bit of volume in after-hours trading for Ideanomics Inc. sending the share price back up to $1.27, good for a late bump of 4.10%. While some investors take this as a sign that good news is on the way for the company, no real news was revealed by Ideanomics Inc. on Tuesday that would warrant such movement. The after-hours bump can probably be attributed to investors picking up some shares at the new rock bottom price.
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