Ideanomics, Inc. IDEX shares are trading lower Friday. The stock effected a 1-for-125 reverse stock split on Friday in order to regain compliance with the Nasdaq minimum bid requirement.
What To Know:
The reverse split reduced the number of outstanding IDEX shares from 1.5 billion shares to 12 million shares.
Ideanomics will release its first-quarter financial reports after the market close on Friday, followed by a prerecorded conference call at 4:30 p.m. ET the same day.
The company is expected to report a loss of 12 cents per share and revenue of 10.562 million, according to estimates from Benzinga Pro.
Ideanomics, Inc. is engaged in the acceleration of the commercial adoption of electric vehicles. The company conducts its operations in one segment with three business units; Ideanomics Mobility's focus is EVs, including mid and last-mile delivery trucks and vans, tractors, and two-wheelers.
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IDEX Price Action: According to Benzinga Pro, Ideanomics shares are trading down by 11% at $3.81 at the time of publication.
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