Ideanomics (NASDAQ: IDEX) has been expanding to niche markets, and if you are looking for a stock to augment your zero-emissions portfolio, this could be your pick.
The company focuses on sustainability, but it has several businesses in mergers and partnerships with other companies. Its success makes it a worthy addition to your ESG holdings. Also, the anticipated buyout of a clean transportation specialist will enhance the company’s substantial share proposition.
The stock has dipped from its recent highs, and this will be the ideal dip-buying chance for interested investors. Ideanomics operates two segments, including Ideonomics Capital, serving the fintech sector, and Ideonomics Mobility, an electric vehicle division.
The company has diversified its holdings into the vast clean energy sector. Recently, the company increased its interest in Solectract, a battery-powered tractors designer, and bought a majority stake in EV company Treeletrick’s sales and distribution arm. Ideanomics seems to be making big moves in the clean energy space, and clean transportation company US Hybrid could also be the card for acquisition. In the coming months, Ideamomics is a stock to watch.