IDEX Stock News: Ideanomics Inc. starts the week off in the red once again

IDEX share price tumbles another -5.80% in trading today.
Robinhood investors are cutting their losses and abandoning the stock.
Ideanomics Inc. continues to lag behind other companies in the sector.

Stocks Reporter FXStreet

NASDAQ:IDEX began the week in the red once again, continuing its slide over the past few weeks of trading. The stock opened at $1.36 per share and briefly touched a spiked up to $1.40 per share, but by the end of the trading day had regressed back down to close at $1.30 per share. A single-day loss of -5.80% for the beleaguered company that has been recently hit by class-action lawsuits regarding misleading statements about false deals that were being made in China.

Ideanomics Inc. stock: Retail investors lose confidence in the company, signaling a selloff

NASDAQ:IDEX was sold off by over 2500 Robinhood investors today according to their analytics page, which was the fourth-highest stock selloff per user on the platform. The selloff is a telltale sign that investors may have reached the tipping point with the company, losing trust and patience with the stock. Ideanomics Inc. has seen an increase in institutionalized purchases of its shares, raising the percentage of its shares owned up to 6.91%. Some investors have been taking this as a signal that banks or hedge fund managers may be looking at IDEX at its current price as a buying opportunity.

Still, with less than a month until quarterly earnings are announced, and amidst their growing legal challenges, Ideanomics Inc. has some rough waters ahead of them. Despite other industry rivals Tesla (NASDAQ:TSLA) and Nio (NASDAQ:NIO) seemingly reaching new all-time highs on a daily basis, IDEX continues to lag behind the sector and the markets in general.

Author

Stocks Reporter

FXStreet

EUR/USD: Gains remain capped by 1.1650

EUR/USD remains in recovery-mode following the closing bell in Euroland on Wednesday, hovering around the 1.1650 zone amid renewed downside pressure on the US Dollar and a marginal improvement in the global sentiment.

GBP/USD appears bid around 1.3370

GBP/USD reverses part of its recent multi-day decline, gathering some balance and managing to reach the 1.3400 region, where some initial resistance seems to have turned up. Cable’s uptick comes in response to some loss of momentum in the Greenback despite the geopolitical scenario remaining fragile.

Gold recovers modestly despite intensifying Middle East crisis

Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.