Why Ideanomics Shares (IDEX) Are Falling
Portfolio Pulse from Henry Khederian
Ideanomics Inc's shares are trading lower by 5.9% to $3.28 and 32% over the trailing five sessions due to downward momentum. The company implemented a 1-for-125 reverse stock split to restore compliance with the minimum bid price criterion of $1.00 for maintaining listing on The Nasdaq Capital Market. The reverse stock split has no effect on the par value of the company's common stock or authorized shares of preferred stock.
August 29, 2023 | 2:27 pm
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Ideanomics Inc's shares are trading lower following a 1-for-125 reverse stock split. The move is aimed at maintaining its Nasdaq listing.
The company's shares are trading lower due to the reverse stock split. This is a common reaction as investors often view such moves as a sign of financial distress. However, the company has stated that the split is aimed at maintaining its Nasdaq listing, which could be seen as a positive move in the long term.
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