Why Ideanomics Stock Is Trading Higher Today

Ideanomics IDEX shares are trading higher after its Mobile Energy Global Qingdau EV Hub secured an order from Tianjin Zhongcheng Jiaye Automobile Trading Co. The order is for 42 vehicles valued at $4.4 million.

The order will be fulfilled with Toyota Land Cruiser models and delivery of the vehicles to Tianjin Zhongcheng is expected to commence later this month.

Ideanomics is a global company focused on facilitating the adoption of commercial electric vehicles and developing next-generation financial services and Fintech products. Its electric vehicle division, Mobile Energy Global (MEG) provides group purchasing discounts on commercial electric vehicles, EV batteries and electricity as well as financing and charging solutions. 

Ideanomics shares were trading 2% higher at $2.10 at time of publication on Friday. The stock has a 52-week high of $2.84 and a 52-week low of 28 cents.