Why Ideanomics Stock Jumped Today

Shares of Ideanomics (NASDAQ: IDEX) have jumped today, up by 12% as of 3:30 p.m. EDT, after the company said it invested in electric-tractor maker Solectrac. Ideanomics also scheduled its third-quarter earnings release.

Ideanomics has acquired a 15% stake in Solectrac for $1.3 million, saying that the deal will expand its global footprint in the electric vehicle industry by giving it exposure to specialty commercial vehicles. It will also get a seat on Solectrac's board of directors.

Image source: Ideanomics.

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Source Fool.com