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Ideanomics Stock Is All Hype and Little Substance. Avoid It.
After rallying on hype rather than substance, IDEX stock will pull back in a big way
By Matt McCall and the InvestorPlace Research Staff, Editor, MoneyWire Jan 8, 2021, 3:10 pm EST
Is Ideanomics (NASDAQ:IDEX) stock a rising star in the EV (electric vehicle) sector? Don’t count on it. For starters, this company didn’t start off in the electric vehicle business. Instead, it’s a perennial penny stock, dabbling in a hot sector to gain attention (and capital) from investors.
What do I mean? Back in 2014, this company was known as YOU on Demand, a Chinese VOD (video-on-demand) company. First changing its name to Wecast Network, then Seven Stars Cloud, the company had morphed into a fintech play by 2018. Shortly after that, it adopted the Ideanomics name, and began another strategic shift: into the EV sector.
So far, none of this has helped to turn IDEX stock into a long-term compounder. Instead, shares have traded wildly, soaring as speculators rush in on the heels of a good press release. Post-hype, shares have usually fallen back to prior price levels.
Sure, the company may find success with its aggressive move into the fast-growing EV sector. But, keep in mind this company isn’t focusing on a particular niche of the industry. Instead, it’s throwing darts at a board, and seeing what sticks.
That is to say, this is more a gamble on EVs than a well-thought out investment. And, as investors realize it’s not on the cusp of something big, expect shares to tumble yet again.
Why IDEX Stock Is Not a Great EV Play
Ideanomics still operates its fintech division. But, lately, investors are most excited about its Mobile Energy Global division. Most of this unit consists of businesses adjacent to the sector, namely in sales and financing. For example, it recently inked a deal to purchase a fleet of EVs in China for deployment as rideshare vehicles.
Dabbling in multiple aspects of the EV services space, the Mobile Energy Global unit refers to its business model as “S2F2C,” or “sales to financing to charging.” Only time will tell whether this strategy pays off. Or, if it ends up being little more than a mouthful of corporate lingo.
But, besides operating in the services end of the EV industry, the company also has a piece of an electric vehicle manufacturer. That would be its 24% stake in e-tractor manufacturer Solectrac. Solectrac is still in very early stages (company was formed in 2019). But, there’s big potential here, as the EV wave moves beyond just passenger and commercial vehicles, and into the agricultural vehicle space.
In short, Ideanomics offers investors a sampler plate of EV exposure. But, while there is the possibility of tremendous growth in the coming years, is it actually likely? Looking at the company’s history of dabbling in “hot” industries, I wouldn’t hold my breath. Just like its failed forays in media and fintech, its dabbling in the EV sector will fall short of expectations.
Looking at Its Past, Expect History to Repeat Itself
Ideanomics may look like a unique opportunity. But, on closer inspection, it’s your garden variety penny stock. The constant changing of its corporate name, its fast pivoting between industries. These are all hallmarks of a company more in the business of hyping interest in its stock, rather than building a profitable, sustainable business.
On the other hand, unlike some other hype stocks, IDEX stock hasn’t “cashed the check” just yet. That is to say, exploit investor enthusiasm by raising capital via a dilutive stock offering. The company did register a $250 million shelf offering back in June. But, so far, it hasn’t announced an offering.
Yet, perhaps it’s too late to strike while the iron is hot with a direct offering. Ideanomics shares have pulled back since surging above $3 per share in the weeks following the U.S. Presidential election (which fueled a big rally in EV stocks). But, at around $2.36 per share, it may try to do so. Even at today’s prices, shares are far above prior trading levels (around $1 per share).
Keep in mind potential dilution isn’t the only concern here. Just like with other “also ran” EV plays, it’s speculation, not fundamentals, that’s driving price action. If and when stocks in this sector see a correction, weaker names like IDEX stock will see the largest declines.
Just like it has many times with this stock, history will repeat itself. After rallying on hype rather than substance, shares will pull back in a big way.
The Verdict? Avoid Ideanomics
Overall, I remain bullish on the EV sector’s long-term prospects. But, don’t take that to mean I’m bullish on all EV stocks. This isn’t a solid play on the future of electric vehicles. Instead, it’s a “wannabe” riding the coattails of stronger, better-capitalized rivals.
Given its high possibility of tumbling as investors realize it’s all sizzle and little steak, the verdict’s clear on IDEX stock: avoid.
On the date of publication, neither Matt McCall nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
https://investorplace.com/moneywire/2021/01/ideanomics-idex-stock-all-hype-little-substance-avoid-it/?mod=mw_quote_news
I don't write them, just sharing what I read...
MADLONG2029
I sold one of my cannabis company stocks to add more IDEX on Monday!
MADLONG2029
FORCE for KNOWLEDGE
Symposium on Electric Vehicles and EV Infrastructure
Date & Time:
January 8, 10:00 AM ET / 7:00 AM PT
Webinar: Details provided upon RSVP approval
About the Event:
Change is on the road. The switch from petroleum-powered cars, trucks, and buses to electric vehicles is inevitable and accelerating. With such a seismic shift comes monumental opportunities. This change will disrupt every aspect of the $3 trillion transportation industry including vehicles, infrastructure, retailing, and service.
FORCE Wealth and ROTH Capital Partners are co-sponsoring two 45-minute panel discussions and a third, 30-minute bonus discussion on local and last mile mobility solutions with thought leaders in the electric vehicle manufacturing and infrastructure sectors to help investors understand where those opportunities may exist.
Our first panel will include leaders from electric vehicle manufacturers:
Lordstown: Manufacturer of Endurance, the world’s first all-electric commercial pickup truck
Canoo: Bringing the ultimate in utility to the EV sector
Electra Meccanica: Maker of the Solo personal EV commuter car
XL Fleet: An industry leader in electrification for Class 2-6 commercial fleet vehicles
Lion Electric: Innovative manufacturer of all-electric class 5-8 commercial urban trucks, buses and minibuses
Our second panel will include leaders from electric vehicle infrastructure companies:
Luokung: A leading tech company that uses its data-processing SuperEngine to enable EV and autonomous vehicle operation
Ideanomics: An electric vehicle manufacturer that integrates financial resources, charging networks, and utilities
Nuvve: A leader in vehicle to grid (V2G) infrastructure for high-powered charging and grid services
Blink Charging: Deploying and operating EV charging infrastructure globally
Beam Global: Maker of the most rapidly deployed EV charging stations in the world
The third segment will focus right-sized last mile and local mobility solutions with:
Arcimoto: A U.S.-based manufacturer of a new EV platform with personal, fleet, and first responder applications
Join us January 8 for a lively discussion of the electrification of the transportation industry hosted by Harvey Briggs, FORCE communications director and Editor/Publisher of the website, Rides & Drives, and moderated by Craig Irwin, Senior Research Analyst at Roth Capital Partners.
https://forcewealth.com/portfolio-items/ffk-ev-2021-01-08/
MADLONG2029
FORCE for KNOWLEDGE
Symposium on Electric Vehicles and EV Infrastructure
Date & Time:
January 8, 10:00 AM ET / 7:00 AM PT
Webinar: Details provided upon RSVP approval
About the Event:
Change is on the road. The switch from petroleum-powered cars, trucks, and buses to electric vehicles is inevitable and accelerating. With such a seismic shift comes monumental opportunities. This change will disrupt every aspect of the $3 trillion transportation industry including vehicles, infrastructure, retailing, and service.
FORCE Wealth and ROTH Capital Partners are co-sponsoring two 45-minute panel discussions and a third, 30-minute bonus discussion on local and last mile mobility solutions with thought leaders in the electric vehicle manufacturing and infrastructure sectors to help investors understand where those opportunities may exist.
Our first panel will include leaders from electric vehicle manufacturers:
Lordstown: Manufacturer of Endurance, the world’s first all-electric commercial pickup truck
Canoo: Bringing the ultimate in utility to the EV sector
Electra Meccanica: Maker of the Solo personal EV commuter car
XL Fleet: An industry leader in electrification for Class 2-6 commercial fleet vehicles
Lion Electric: Innovative manufacturer of all-electric class 5-8 commercial urban trucks, buses and minibuses
Our second panel will include leaders from electric vehicle infrastructure companies:
Luokung: A leading tech company that uses its data-processing SuperEngine to enable EV and autonomous vehicle operation
Ideanomics: An electric vehicle manufacturer that integrates financial resources, charging networks, and utilities
Nuvve: A leader in vehicle to grid (V2G) infrastructure for high-powered charging and grid services
Blink Charging: Deploying and operating EV charging infrastructure globally
Beam Global: Maker of the most rapidly deployed EV charging stations in the world
The third segment will focus right-sized last mile and local mobility solutions with:
Arcimoto: A U.S.-based manufacturer of a new EV platform with personal, fleet, and first responder applications
Join us January 8 for a lively discussion of the electrification of the transportation industry hosted by Harvey Briggs, FORCE communications director and Editor/Publisher of the website, Rides & Drives, and moderated by Craig Irwin, Senior Research Analyst at Roth Capital Partners.
https://forcewealth.com/portfolio-items/ffk-ev-2021-01-08/
MADLONG2029
TORONTO, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Plateau Energy Metals Inc. (“Plateau” or the “Company”) (TSX-V: PLU | OTCQB: PLUUF) is pleased to provide an update on recent initiatives and activities.
Highlights:
Falchani Lithium Chemical Project desktop work for project optimization programs in progress:
Lithium chemical product flexibility to evaluate lithium hydroxide and lithium sulphate from lithium sulphate solution
Lithium process flowsheet optimization program design
By-product phase 2 program design
Macusani Uranium Project desktop work for project optimization programs in progress:
Pre-concentration work program design as follow on to favourable Cameco results
2 tonne uranium sampling program from 5 different deposit areas for future test work completed
Community support initiatives in Peru ongoing to help ensure the health, safety and wellbeing of our host communities
"Our team has been making concerted efforts to support our host communities in these challenging times" stated Alex Holmes, CEO. "Peru has been hit extremely hard by the global pandemic caused by Covid-19 and a focus of ours is in helping ensure our host communities can be safe and responsible in handling the pandemic."
"To our shareholders, as we navigate these times, we want to remind you of the tremendous value opportunity we have with two strategically important critical minerals projects in the green energy/technology industry. We continue to see investment downstream of raw materials in lithium-ion batteries and electric vehicles, and in nuclear energy as a stable clean energy source. At the same time, we are also seeing future supply constraints surfacing in both battery quality lithium chemicals in a fast-growing demand market and in uranium for fuel for nuclear energy plants. The market dynamics, medium and long-term, are unfolding in our favour and we remain focused on de-risking both projects as they are needed in a green recovery world."
MADLONG2029
Plateau Energy Metals Inc, formerly Plateau Uranium Inc, is a Canada-based exploration-stage company. The Company is a lithium and uranium exploration and development company focused on its properties on the Macusani Plateau in southeastern Peru. Its uranium exploration properties are located in the Puno province. The Company controls over 910 square kilometers of territory on the Macusani plateau and all reported uranium resources known in Peru, growing lithium resources and mineral concessions covering over 91,000 hectares.
MADLONG2029
I agree the purchase of WAVE is a game changer, the technology alone is primed for the EV future.
MADLONG2029
Yes, very good thought, only one of my MJ holdings fits this category.
I'm not thinking about dropping it. It's High Tides
MADLONG2029
I plan on attending.
We're over $1...
Loved the action FFNTF as had for a month or so!
MADLONG2028
Indeed!
The real Green wave is headed our way!!!
MADLONG2029
Have you not been watching?
The pattern has been set already!
MADLONG2029
WAY UP in pre-market!!!
MADLONG2029
Here we go everyone. The last 2 years of buying in a down market is beginning to pay off.
SAFE Banking Act is coming too!!!!
The GREEN wave has not even started...
Cannabis
Bio Fuels
EV cars and chargers
Lithium
It's all headed to Mars!
MADLONG2029
IDEX has been on my buy list for about a month, then I read this morning about the acquisition of WAVE and I had to pull the trigger and get in at 2.12.
PROVEN, INNOVATIVE TECHNOLOGY
WAVE is the only company that currently offers a commercially available wireless charging system up to 250kW, with 500kW and 1MW systems right around the corner. WAVE’s inductive charging systems, currently powering buses on routes throughout the U.S., are the nation’s only solutions to have successfully undergone multiple rigorous commercial deployments.
SERVICES
WAVE provides custom fleet solutions for mass transit, logistics, airport and campus shuttles, drayage fleets, and off-road vehicles at ports and industrial sites.
https://waveipt.com/
MADLONG2029
With the EV wave coming Plateau is a double win with both Lithium and Uranium!!!
It's a cut above the others in so many ways!
https://plateauenergymetals.com/
MADLONG2029
I did notice it!
I was actually hoping for another dip, To double my double.
May have to chase over .20
MADLONG
Building a solid base for the next jump!
MADLONG2029
An Overview Of ElectraMeccanica's Recent Company Developments Going Into 2021
10:48 am ET January 4, 2021 (Benzinga)
ElectraMeccanica was one of the sponsors for the Benzinga Global Small Cap Conference that took place on December 8-9, 2020.
Electric vehicle stocks garnered a significant amount of attention in 2020. We had announcements from well-known automotive companies such as Ford Motor Company (NYSE: F) announcing production plans for the electric version of its popular pick-up truck, the F-150. But we also had some newer, electric-specific automotive companies announce production plans for their EVs.
Canadian electric automotive company ElectraMeccanica Vehicles Corp (NASDAQ: SOLO) is among one of the newer electric car companies that are challenging the way consumers view driving. The company is unique in its efforts to try and capture the space between passenger vehicles and micro-mobility.
And 2020 has proven to be a news-worthy year for the company. So, to stay up-to-date on all ElectraMeccanica’s recent developments, provided below is a condensed overview of everything you need to know.
Key Milestones
In what is arguably the biggest news to come from the company this year, ElectraMeccanica announced the production start date for its flagship SOLO EV — August 26th. The SOLO is a three-wheeled, purpose-built electric vehicle that was designed for a modern urban environment. Coinciding with the car’s name, the SOLO is a single-occupant vehicle that was built for the everyday commuter.
“The SOLO is the ideal commuter car that fits perfectly into your busy lifestyle being both good for you and the planet,” said Paul Rivera, CEO of ElectraMeccanica.
Towards the end of August, the company launched the “Drive SOLO” campaign, created in partnership with Narrative Media Group. The campaign video used digital storytelling to educate consumers on the SOLO EV and its functionality.
In September, the company announced its plans to produce a “utility and fleet” version of the SOLO EV which will feature a cargo “cap” for more space and versatility. This alternative version of its flagship vehicle is anticipated to be available in early 2021.
At the end of October, ElectraMeccanica announced the expansion of its retail footprint with the opening of six new retail locations in addition to its existing four locations. The Company now maintains and operates 10 locations in the following cities:
San Diego, CA
Brea, CA
Scottsdale, AZ — Kierland Commons and Westfield Fashion Square
Glendale, AZ
Santa Clara, CA
Walnut Creek, CA
Century City, CA
Sherman Oaks, CA
Portland, OR
That same month, the company also announced two finalist sites for its future assembly facility and engineering technical center: Arizona and Tennessee.
MADLONG2029
Barchart Technical Opinion
STRONG BUY
The Barchart Technical Opinion rating is a 88% Buy with a Strengthening short term outlook on maintaining the current direction.
Long term indicators fully support a continuation of the trend.
https://www.barchart.com/stocks/quotes/ZLDAF/overview
MADLONG2029
High Tide Appoints Retail Industry Veteran Andrea Elliott As Independent Director
CNW Group - Mon Jan 4, 5:00AM CST
CALGARY, AB , Jan. 4, 2021 /CNW/ - High Tide Inc. (" High Tide " or the " Company ") (TSXV:HITI.VN) (OTCQB:HITIF) (FRA:2LY), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, is pleased to announce the appointment of Andrea Elliott as an independent director of the Board effective January 4, 2021 . Ms. Elliott brings over 20 years of executive retail experience to High Tide. She currently is Executive Vice President, Direct to Consumer at Moose Knuckles – a successful global Canadian luxury outerwear brand.
Previously, Andrea founded r2 retail resources, an independent consultancy that supported domestic and international retailers with strategic initiatives, growth plans, e-commerce ideation and SG&A improvements. Ms. Elliott was previously VP & General Manager of PVH Canada Retail ( Calvin Klein , Van Heusen , IZOD & Bass), an EVP at PwC and COO with Karabus Management – a wholly-owned subsidiary of PwC focused on the retail industry. Prior to PwC, Andrea was the Director of Canada Operations for Williams-Sonoma Inc. and held various senior positions at Gap Inc in the International division.
"We are delighted to have Andrea join the Board and increase the retail expertise, independence and diversity of our organization," said Raj Grover, President and Chief Executive Officer of High Tide. "As we grow our national cannabis store footprint and our international e-commerce businesses, Andrea's extensive retail background will be invaluable as we implement strategic initiatives to further differentiate High Tide from the competition," added Mr. Grover.
With the addition of Ms. Elliott, High Tide has also strengthened its real estate competency at the Board level. "I'm excited to join the Board of High Tide and contribute to the evolution of this great company as it broadens its focus beyond Canada to new opportunities in the United States and abroad," said Andrea Elliott . "I view this as a mutually beneficial opportunity and appreciate the warm welcome to High Tide's Board," added Ms. Elliott. The Company looks forward to Andrea's guidance as it continues to execute on its growth strategy.
Ms. Elliott replaces Mike Cosic who resigned as a member of the Board effective January 4, 2021 . Mr. Cosic became a director of High Tide concurrent with the acquisition of Meta Growth Corp. ("META") on November 18, 2020 and played an important role in facilitating the transition. Mr. Cosic graciously resigned to allow the Board to attract Ms. Elliott and High Tide thanks Mr. Cosic for his contributions.
The Board has approved the grant of 1,000,000 stock options for Ms. Elliott to purchase common shares of High Tide. The options have an exercise price of $0.255 per common share and have a term of 3 years. Subject to the terms and conditions of the Company's Stock Option Plan, the options shall vest as per their previously announced schedule.
Furthermore, the Company issued an aggregate of 833,332 common shares of High Tide (" Interest Shares ") to certain holders of unsecured convertible debentures of the Company, in satisfaction of the annual amount of interest due to the holders. The Interest Shares were issued at a deemed price of $0.24 per Interest Share. The Interest Shares are subject to a statutory hold period of four months plus one day and remain subject to final approval from the TSX Venture Exchange.
MADLONG2029
I agree!
The more I look into this, the better it looks.
Hoping for a dip and I'm scooping up a stack.
MADLONG2029
Company Highlights
Strong Management Team & Board
Exploration + development + project finance leadership + operations
Peruvian technical, environmental, permitting + community relations teams
Consolidated Land Package
100% control of 930 km2 land package in one of the world's undeveloped lithium and uranium district
Location: Macusani Plateau, Puno, Southeastern Peru
Excellent Infrastructure
Labour, water and inexpensive hydro-electric power
Transport (major highway 17km from camp)
Reagents supply in-country (H2SO4 )
Access to multiple ports
Mining Supportive Jurisdiction
Supportive government and local communities
Falchani Lithium Project
A clean tech strategic asset
Supply Security (Peru)
Growth Potential
Development Potential
Quality
Excellent Infrastructure
Macusani Uranium
A green energy enabler
Strong Project Economics
Control all U3O8 Resources in Peru
Growth Potential
Excellent Infrastructure
Located in Peru
Plateau Energy Metals Inc., a Canadian based company, led by its experienced leadership team is enabling the new energy paradigm through exploring and developing its Falchani lithium project and its Macusani uranium project in southeastern Peru. The Company, with 100% control of mineral concessions covering over 93,000 hectares (930 km2 ), has significant and growing lithium resources and all reported uranium resources known in Peru, all of which are situated near infrastructure.
Project Highlights
MADLONG2029
Welcome, got in last week myself.
MADLONG2029
Plateau Energy Metals [TSXV:PLU] [GR:QG1A] (OTCQB:PLUUF)
Plateau Energy Metals Inc. (formerly Plateau Uranium) is a Canadian lithium and uranium exploration and development company focused on its properties on the Macusani Plateau in southeastern Peru.
Bought in as part of my green sector.
MADLONG2029
I was researching any company within the cannabis sector in May of 2020 and bought in here at .031.
MADLONG2029
I agree, my cup is not full yet, so downward or sideways is fine with me.
MADLONG2029
Very nice!!!
So many buying opportunities.
I'm picking up a lithium company Monday, just signed a deal with a major battery maker!
The entire green industry is blowing up!!!
MADLONG2029
I'm in at .37. Filled this cup and holding!!!
MADMLONG2029
Yea I believe your right.
Picking up a stack Monday, new here. doubling my double from last week.
MADLONG2029
Yes, buying the last 2 years in the dip is really paying off!!!
Liberty is my best performer this month, with the buy out. Love their action now!
MADLONG2029
Looking good, I wish we would of kept our AZ assets, but it is what it is.
MADLONG2029
POLITICO
Biden set to supercharge clean energy push with $40B stash
By Zack Colman 18 hrs ago
DOE is poised to again play an essential role as the Biden administration looks to leverage clean energy investments towards its twin goals of pulling the economy out of a deep slump and delivering on the president-elect’s ambitious climate pledges.
And Biden, who oversaw the Obama administration’s stimulus work as vice president, unknowingly left himself a down-payment for the work ahead: $40 billion in unused Energy Department loan authority awarded under the 2009 stimulus. That pot of money could offer a way to kick start his climate and infrastructure plan at a time when a narrowly divided Congress may balk at his call to spend $2 trillion over four years.
The Energy Department will play a key role in helping slash emissions from the transportation sector, the largest contributor to climate change. Electrifying the nation's fleet of vehicles would represent one of the most seismic market and technological upheavals in recent history. And the department will also have a major role to play in stanching emissions from buildings, appliances and the electric power
sector.
Entire article
https://www.msn.com/en-us/money/markets/biden-set-to-supercharge-clean-energy-push-with-40b-stash/ar-BB1covin?ocid=msedgdhp
This is what JNS does!
MADLONG2029
Biden set to supercharge clean energy push with $40B stash
By Zack Colman 18 hrs ago
DOE is poised to again play an essential role as the Biden administration looks to leverage clean energy investments towards its twin goals of pulling the economy out of a deep slump and delivering on the president-elect’s ambitious climate pledges.
And Biden, who oversaw the Obama administration’s stimulus work as vice president, unknowingly left himself a down-payment for the work ahead: $40 billion in unused Energy Department loan authority awarded under the 2009 stimulus. That pot of money could offer a way to kick start his climate and infrastructure plan at a time when a narrowly divided Congress may balk at his call to spend $2 trillion over four years.
Entire article
https://www.msn.com/en-us/money/markets/biden-set-to-supercharge-clean-energy-push-with-40b-stash/ar-BB1covin?ocid=msedgdhp
MADLONG2029
I have been, they are on my watch list.
Both stocks have went up, at this point this looks like a win win!
I was getting tired hanging around .39, we all get shares of a new MSO with a great stock structure.
Help me see why no please?
MADLONG2029
I'm voting Yes
MADLONG2029
I just found it too.
I believe this is going to move up with everything happening in 2021 in the EV world.
MADLONG2029
Happy New Year and may the worm turn for you and Halo this year!!!
IMO in at a good level, under .20
It dipped again today under .20 and I scooped up a small stack.
My stimulus is in the account and I'm adding Monday, hope under .20 again.
Have you looked at the Bio-fuels? There is some money to be made there...
Again best of luck and I'm watching still Halo.
MADLONG2029