FinancialBuzz.com’s latest The Buzz Show: Featuring Our Corporate News Recap on “Ideanomics Shares Rise After Doubling Stake in Solectrac Inc.”
Ideanomics Inc. (NASDAQ: IDEX) shares soared over 36% in premarket trading after the company announced the doubling of its investment in California-based Solectrac Inc.
Ideanomics said it invested an additional $1.3 million in Solectrac, increasing its ownership stake to 24% after its initial 1.3 million dollar investment on October 22nd and the new investment allows Ideanomics to increase its share of ownership sufficiently to recognize its stake in Solectrac under the equity method for US GAAP accounting purposes.
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Mobile Energy Global (MEG) division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, MEG and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.
For more information, please visit: Ideanomics, Inc.
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