BUSINESS/FINANCE NEWS
Setup News Ticker
   BUSINESS/FINANCE NEWS
Searching for 'Stocks Right'. (Return)

MarketWatch MarketPulseNov 23, 2020
Ideanomics stock soars after doubling investment in electric tractor maker
Shares of Ideanomics Inc. soared 31.8% on heavy volume in premarket trading Monday, after the company focused on investing in disruptive technologies announced the doubling of its investment in California-based Solectrac Inc., which makes battery-powered electric tractors. Trading volume was 11.4 million shares ahead of the open, already nearly reaching the full-day average of about 11.7 million shares. Ideanomics said it invested an additional $1.3 million in Solectrac, which increases its ownership stake to 24%. Ideanomics had announced on Oct. 22 an investment of $1.3 million to buy the 14.7% stake in Solectrac. Ideanomics said the latest investment allows it to recognize its stake in Solectrac under the equity method of accounting under generally accepted accounting principles (GAAP). "We believe Solectrac has enormous potential and, given the uptick in both product inquiries and investment interest they are seeing, we exercised our rights to increase our stake so we can help Solectrac scale to meet anticipated market demand," said Chief Executive Alf Poor. The stock has soared 80.0% year to date through Friday, while the S&P 500 has gained 10.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


TRENDING TAGS
COVID-19vaccine effective Family Amid 90%
vaccineCOVID-19 AstraZeneca Coronavirus effective COVID
BidenState Secretary Blinken Antony break
CoronavirusVaccine cases Latest Dow Futures
stockBuy market These vaccine Apple
FridayBlack Deals Best iPad Shop
BlackFriday Deals Best iPad Shop
CovidCOVID-19 vaccine cases amid effective
buyStocks Stock Best Apple Market
StocksBuy These Watch vaccine Growth

NEWS SOURCES
Top News (Business News)
Accounting Today
AdWeek News
Banking Business Review
Barron's This Week Magazine
Barron's Up and Down Wall Street Daily
Brad Ideas
Chicago Tribune Business News
CNBC Business
CNBC Economy
CNBC Finance
CNN/Money
CNN/Money Real Estate News
Dismal.com: Analysis
Dismal.com: Indicators
Enterprise Application News
Entrepreneur.com
Forbes Headlines
Forbes Social Media News
FT.com - China, Economy & Trade
FT.com - Financial Markets
FT.com - Hedge Funds
FT.com - Telecoms
FT.com - US
Google Business News
Google Market News
HBS Working Knowledge
Inc.com
INSEAD Knowledge
International Tax Review
Kiplinger
Knowledge@Wharton
L.S. Starrett News
MarketWatch
MarketWatch Breaking News
MarketWatch MarketPulse
McKinsey Quarterly
MSNBC.com: Business
Nielsen Trends
NonProfit Times
NPR Topics: Business
NYTimes Business
OpinionJournal.com
Private Equity Breaking News
Reuters Business
Reuters Company News
Reuters Money
SEC.gov Updates: News Digest
SHRM HR News
Tax Policy News
The Economist International News
The Motley Fool
USA Today Money
Wall Street Journal US Business
Wall Street Transcript
Washington Post Business
WSJ Asia
WSJ Europe
WSJ MoneyBeat
WSJ Opinion
WSJ US News
WSJ World Markets
Yahoo Business
  • CEOExpress
  • 1 Boston Place | Suite 2600
    Boston MA 02108
  • 617 482 1200
    617 299 8649 (fax)
  • Contact
  • As an Amazon Associate
    CEOExpress earns from
    qualifying purchases.

©1999-2020 CEOExpress Company LLC