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Ideanomics Stock Rises On December Sales Activity

Sam Boughedda trader
Updated 15 Jan 2021

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Ideanomics (NASDAQ: IDEX)

Shares of Ideanomics (NASDAQ: IDEX) are rising premarket on Friday after the company said its Mobile Energy Global division delivered a total of 439 units for December.

The company which helps commercial fleet operators procure electric vehicles said 356 of those deliveries were for the taxi/ride-hailing business segment, and the remaining 83 were for the rental car business segment.

The company’s fourth-quarter activities also include the delivery of one charging system and 13 CATL battery systems which are part of an ongoing order for converting diesel-powered buses to battery electric vehicles.

The Q4 results do not include any units from Ideanomics recently announced a deal with BYD and Didi for 2,000 units of their D1 ride-hailing vehicle, with deliveries expected in the first half of 2021.

The vehicles in that deal are aimed for use in multiple Chinese cities where passengers can hail the cars through Didi’s app.

Ideanomics shares are up 9.39% premarket, priced at $3.61.

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.