Ideanomics (IDEX) in Focus Today After Big Breakout

One of the major gainers in the markets yesterday was the Ideanomics (NASDAQ: IDEX) stock and the rally has continued this morning during the premarket trading hours. The stock rallied by as high as 36% on Thursday and this morning in pre-opening trade, IDEX stock has already recorded gains of 15% at $3.43. In such a situation, it is likely that the stock is going to be in the radars of many investors today.

 

In order to understand the rally in the stock, it could be worthwhile to consider an announcement from Ideanomics on December 22 last year. At the time the company announced that it was in process of paying off some of the debts on its books.

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Ideanomics stated in a filing with the Securities and Exchange Commission that it reached a payoff agreement with Advantech Capital Investment. As per the agreement, the company was going to pay off all its residual obligations from June 28, 2019. The total amount paid off by Ideanomics stood at $14.5 million including interest.

Uson Abdilazhanov

Editor and Computer Expert A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.