Why is EV Inspired Ideanomics (IDEX) Coming Back Strongly After The Recent Pullback?

In recent times, the Ideanomics Inc (NASDAQ: IDEX) stock emerged as a viable option for many investors who were looking into potential electric vehicle plays.

In February, the stock had corrected considerably and declined by as low as 17.6%. However, it has rebounded strongly and on Tuesday, it gained as big as 15% and took its gains for the year so far to 60%. In February, the company management stated that Ideanomics diversified its sources of revenues. As a consequence, the company will be reporting the MEG vehicle delivery figures on a quarterly basis rather than on a monthly one.

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That announcement might have as a bit of a disappointment for investors since it might have signaled that Ideanomics was shifting its focus. Despite that, it is necessary to keep in mind that over the course of the past 12 months, the company has seen its stock record considerable gains. However, experts believe that the stock is going to continue to experience volatility in the near term.

Jack Dawkins

Finance and Tech Contributor