The IDEX Saga

Ideanomics has now fought back! After J Capital and Hindenburg Research released the short reports on the “Company”, it’s stock price dropped over 50% in two days. Ideanomics has now provided details and evidence to refute the claims made in the reports. They have also seen increase in stock positioning and provided clarity to their business model. IDEX refuted the claim from J Capital that the company didnt have enough funding their operations but IDEX countered that by showing that capital has been raised through security sales to YA II PN for the amount of 20 million and a S-3 filing allowing another 250 million to be raised through stocks. Hindenburgs report was mainly about the Qingdao EV Center and how Ideanomics may have potentially altered images and made false claims about the status of the center. But Ideanomics dismissed that by providing more details about their 15 year rent free agreement and the three-phrase plan to open the full 1 million sq ft area.

from Marv