Ideanomics ( NASDAQ: IDEX ) Q2 2020 Financial Results
On August 10th, 2020 Ideanomics ( NASDAQ: IDEX ) announced their Q2 2020 Financial Results outlining second quarter revenues of $4.7 million versus first quarter ending March 31, 2020 revenues of $378,000.
Ideanomics ( NASDAQ: IDEX ) Recent Video
As the electric vehicle technology sector continues to grow with Tesla Motors ( NASDAQ: TSLA ) leading the way we are reporting on Ideanomics trading on the Nasdaq under the symbol IDEX. Ideanomics is a global company focused on facilitating the adoption of commercial electric vehicles and developing 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.
The company in Q2 reported the largest revenues to date from Mobile Energy Global (MEG) of $4.7 million and the increase in cash to $36 million, debt reduction by approximately 50 % and the launch of its Medici Motor Works.
Ideanomics announced a multiple EV taxi order of 11,254 units and is using the Tesla Model 3 as a “proof of concept” along other selected EV manufactures such as BYD, Chery, Dong Feng, Nissan, Kia, and Geely to complete this EV taxi order. Led by Tesla ( NASDAQ: TSLA ), electric vehicle sales are predicted to surge in 2021. A new report by Cairn Energy Research Advisors, a research firm focused on the battery and EV industries estimates global sales of EVs in 2021 will jump 36% and top 3 million vehicles for the first time ever. For more information on Ideanomics trading on the Nasdaq under the ticker symbol IDEX go to www.Ideanomics.com.
Tesla Inc ( NASDAQ: TSLA ) announced a 5 for 1 Stock Split
In other industry news on August 11th, 2020 Tesla Inc ( NASDAQ: TSLA ) announced a 5 for 1 Stock Split with a record date of August 21, 2020. For more information on the stock split visit https://ir.tesla.com/news-releases/news-release-details/tesla-announces-five-one-stock-split