IDEX Stock News: Ideanomics Inc. gains in first positive day in nearly a week

IDEX stock gains +6.56% during trading day.
Low volume for IDEX stock despite share price rising.
Bargain-hunting investors may have been behind the upswing.

Stocks Reporter FXStreet

NASDAQ:IDEX investors have seen a brief glimmer of hope today as the share price has risen for the first time in nearly a week. The stock opened $0.03 higher from its close of $1.22 per share yesterday, indicating that some after-hours buyers bumped the price up to where it opened at $1.25 this morning. After momentarily touching a daily high of $1.35 per share, IDEX stock retreated back to close the day at $1.30 per share, still good for a +6.56% daily increase.

Ideanomics Inc. Stock: Positive day provides some hope to investors

It was a fairly neutral day for the electric vehicle sector as only Tesla (NASDAQ:TSLA) saw a jump in share price adding another 1.93% to the sky-rocketing stock. The rest of the Nasdaq was fairly flat, though the red hot index did add another 61.92 basis points to end the day in the green once again. IDEX rivals like Workhorse Group Inc. (NASDAQ:WKHS) and Ayro Inc (NASDAQ:AYRO) experienced relatively flat days compared to their recent surges.

There was no real news that caused the IDEX stock jump today, though the company benefited from a similar spike last week, only to follow that with four consecutive days in the red. It remains to be seen how IDEX will perform the rest of the week and month, but a relatively low trading volume today perhaps suggests that the price jump may have been influenced by some bargain-hunting investors. The stock slumped again in after-hours trading, falling back down to $1.28 share which could be an early indication as to how IDEX may perform tomorrow.

Author

Stocks Reporter

FXStreet

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