What's Going On With Ideanomics Stock Today?
Portfolio Pulse from Erica Kollmann
Ideanomics, Inc. (NASDAQ:IDEX) shares are trading lower after the company effected a 1-for-125 reverse stock split to regain compliance with the Nasdaq minimum bid requirement. This reduced the number of outstanding shares from 1.5 billion to 12 million. The company is set to release its Q1 financial reports after market close on Friday, with an expected loss of 12 cents per share and revenue of 10.562 million.
August 25, 2023 | 2:10 pm
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Ideanomics shares are trading lower after a 1-for-125 reverse stock split. The company is expected to report a loss in its Q1 financial reports.
The reverse stock split has reduced the number of outstanding shares, which can lead to an increase in the stock price. However, the expected loss in the Q1 financial reports could negatively impact the stock price.
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