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Is it Time to Dump Ideanomics Inc (IDEX) Stock After it Is Higher By 112.82% in a Week?

Monday, November 23, 2020 11:21 AM | InvestorsObserver Analysts

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Is it Time to Dump Ideanomics Inc (IDEX) Stock After it Is Higher By 112.82% in a Week?

The market has been high on Ideanomics Inc (IDEX) stock recently. IDEX gets a Bullish score from InvestorsObserver's Stock Sentiment Indicator.

Sentiment Score - ,bullish
Ideanomics Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on IDEX!

What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.

Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.

InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.

The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With IDEX Stock Today?

Ideanomics Inc (IDEX) stock is trading at $2.49 as of 11:08 AM on Monday, Nov 23, a gain of $0.95, or 61.96% from the previous closing price of $1.54. The stock has traded between $2.08 and $2.88 so far today. Volume today is high. So far 141,923,710 shares have traded compared to average volume of 11,706,939 shares.

To see InvestorsObserver's Sentiment Score for Ideanomics Inc click here.

More About Ideanomics Inc

Ideanomics is a global company that facilitates the adoption of commercial electric vehicles and supports next-generation financial services and Fintech products. Its electric vehicle division, Mobile Energy Global (MEG) provides group purchasing discounts on commercial electric vehicles, EV batteries and electricity, as well as, financing and charging solutions a model (S2F2C). Ideanomics Capital provides fintech solutions that include intelligent and innovative financial services and solutions powered by AI and blockchain. Together, MEG and Ideanomics Capital, provide their global customers and partners with more efficient solutions for a greener economy. The company is headquartered in New York, NY, and has offices in Beijing and Qingdao, China.

Click Here to get the full Stock Score Report on Ideanomics Inc (IDEX) Stock.

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