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Ideanomics Inc. (IDEX) stock is up in the premarket trading session; let’s take a deeper look

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At last check in premarket trading, shares of Ideanomics Inc. (IDEX) were up 2.55% at $2.81. IDEX stock closed last session at $2.74, increasing 1.11% or $0.03. Shares of the company fluctuated between $2.725 and $2.95 throughout the day. The number of shares exchanged was 33.83 million, greater than the IDEX stock’s 50-day daily volume of 30.32 million and lower than its Year to date volume of 41.11 million. In the past 12 months, the company’s stock has advanced 260.19%, and in the last week, the stock has moved down -9.57%. For the last six months, the IDEX stock has gained a total of 174.11%, and over the last three months, the stock has decreased by -4.86%. The stock has returned 37.69% so far this year.

The IDEX stock’s operational segments

Ideanomic is a software-application company that focuses on providing tech and software upgrade solutions to companies that are seeking technological advancements. Specifically, its business model is based on engaging companies that are seeking to adopt commercial electric vehicles, associated energy consumption, developing financial services and Fintech products.

There are two segments of the company;

Capital Division deals with the provision of financial services and solutions. The division provides expertise on the capital markets such as financial product advisory while focusing on the application of blockchain and artificial intelligence in financial technology. The division also tracks the Innovation Labs Next-Generation Vehicles Index (LNGVI) through its exchange traded fund known as EKAR.

Mobile Energy Global Division provides financial services for commercial fleet operators which include group purchasing discounts and battery buy-back programs. This division also focuses on fleet operator of commercial electric vehicle’s needs that include procurement, charging, financing and energy management needs.

Ideanomics inked a deal to supply 200,000 Electric bikes to Indonesia

The subsidiary of Ideanomics and Malaysian home-grown electric vehicle maker, Tree Technologies SdnBhd has announced the inking of a deal of partnership with distributors PT PasifikSaktiEnjiniring and NahdatulUlama Board to supply Indonesia with 0.2 million units of its 100% electric bikes.

Treeletrik already has a presence in the ASEAN market and this new deal will boost that regional presence which allows it to play a stronger role in supporting the ASEAN energy transition.  This deal is a multi-year deal which will distribute the 0.2 million units of electric bikes till the year 2023; 10,000 E-bikes in 2021, 90,000 E-bikes will be supplied in 2022, and finally 100,000 units of E-bikes in 2023. This deal is valued at a total US$274 million.

Strategic positioning of this deal

This deal positions Malaysia as the first regional supplier to export electric vehicle units to ASEAN and has an ultimate goal of reducing final energy consumption in the road transport sector by 2040. This encourages other EV companies to create a progressive EV ecosystem. Another joint-venture between PT PasifikSaktiEnjiniring and Treeletrik is in the pipeline to establish an assembly plant in Indonesia to meet the anticipated growth of Electric bike demands.

Overall expansive outlook of IDEX stock

The company has positioned itself well with the expansion of its product-offering (electric bikes), its market (Indonesia’s large position of motorbike users and ASEAN), production (new assembly plants) and partnerships (distributors).  This progress can result in the prospective growth of IDEX stock’s value for 2021.

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