Why Ideanomics Shares Are Popping Off Today

Ideanomics Inc IDEX shares are trading higher by 8.73% to $0.66 Tuesday morning after the company reported its full year 2021 operating results for the period ended December 31st, 2021.

What Happened?

Ideanomics reported a FY21 EPS loss of $0.57, alongside sales of $114.08 million. 

The company says revenue from the U.S. in 2021 was $84.3 million versus $1.6 million in 2020, an increase of $82.7 million. Ideanomics expects revenues from EV to continue to grow as the company consolidates their recent acquisitions and subsidiaries for the company's financial results for the full year of 2022 moving forward.

"In 2021, Ideanomics transformed through several acquisitions, and this enabled us to pursue our vision of becoming the first integrated provider of commercial electrification solutions, which is what the customer is searching for," said Alf Poor, CEO of Ideanomics.

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According to data from Benzinga Pro, Ideanomics has a 52-week high of $2.50 and a 52-week low of $0.51.