Why Ideanomics Stock Popped Today

Shares of Ideanomics (NASDAQ: IDEX) have popped today, up by 17% as of 11:50 a.m. EST, after the company filed for a $150 million stock offering. The deal is being conducted as an at-the-market (ATM) offering.

Ideanomics is tapping Roth Capital Partners as its agent to sell stock. Under an ATM offering, the agent sells stock on behalf of the issuer at prevailing prices directly into the market. The shares are being offered pursuant to a shelf registration that Ideanomics had previously filed. Shelf registrations allow companies to register securities for sale at a later time.

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Source Fool.com