Why Ideanomics Stock Gained Today

Shares of Ideanomics (NASDAQ: IDEX) have gained today, up by 3% as of 12:40 p.m. EDT, after the company provided an update on a large order. The stock was up as much as 19% in early trading.

The company said that it has started to fulfill a previously announced order for 500 Jiangsu AOXIN X30L model logistical vehicles. Of the 500 units, Ideanomics says it has delivered 40 vehicles with all necessary licensing, insurance, and registration completed. The company noted yesterday that it expected financing to be completed for another 360 vehicles on June 30, and today's update confirmed that financing has been secured.

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Source Fool.com