Ideanomics Inc (IDEX)

[WeTheMarket]

BEST EV PENNY STOCKS
JORDAN ROBERTSON
Contributor, Benzinga
February 13, 2023
https://www.benzinga.com/money/best-ev-penny-stocks

Relevant excerpts:

The Best EV Penny Stocks
The transition to EVs will take some time, but the growth of this market should not be underestimated. No market is guaranteed to be profitable, but the EV industry looks poised for growth given macro tailwinds. Here are some stock ideas.

Ideanomics Inc (NASDAQ: IDEX)

Ideanomics: Ideanomics is a global company that facilitates the adoption of commercial EVs and supports next-generation financial services and fintech products.

Its EV division, Mobile Energy Global (MEG), provides group purchasing discounts on commercial EVs, EV batteries, financing and charging solutions.

The company recently acquired a 70% stake in Energica Motor Company, an Italian manufacturer of high-performance electric motorcycles. Meanwhile, the company has previously acquired VIA Motors, Solectrac, Treeletrik, Wave and U.S. Hybrid.

Elsewhere, the company reported revenue for 2021 of $114.1 million. Revenue from the U.S. in 2021 jumped to $84.3 million versus $1.6 million in 2020.