Why Ideanomics Stock Fell 17% Last Month
Shares of Ideanomics (NASDAQ: IDEX) fell 17.6% last month, according to data provided by S&P Global Market Intelligence. The company's stock is prone to some large swings, and the latest drop might have been spurred by Ideanomics' decision to no longer report monthly delivery numbers for its Mobile Energy Global (MEG) segment.
Ideanomics' management said in a press release on Feb. 15 that over the past few quarters, the company had diversified its revenue streams between its MEG segment and Ideanomics Capital. As a result, it's shifting from announcing MEG vehicle delivery numbers from monthly to quarterly.
Image source: Getty Images.
Source Fool.com
