Ideanomics Inc (IDEX)

[JimWin]

What this stock needs is some news confirmation on the potential deals that were mentioned in the last conference call on May 1th.
The company is just over a month away from the next earnings release. Without news between now and then, this stock will continue to sink; It may even test the low 2s once again. A significant ramp in earnings for this quarter is not expected and as such, a significant deal is required to maintain the price even at current levels.

Positive SEC filings like the switch to KPMG have helped to prop up the stock in the absence of real news but it seems like the PR department has gone on holiday as even the addition to the Russell Index did not manage to make it to the News Releases page.

The next month could be a tough one for investors but the potential of a share price spike has not diminished. The possibility remains that at any day, significant news can be released that confirms a major deal. Any such news will result in a significant spike in the company's share price.