Ideanomics Inc. (IDEX) shares have dropped -5.92% at $0.9502 in Friday’s premarket session. Ideanomics (IDEX) stock added 8.91% to finish the last trading session at $1.01. IDEX stock recorded a trading volume of 5.34 million shares, which is below the average daily trading volume published for the last 50 days of 6.28 million shares.
The shares of Ideanomics (IDEX) have advanced 6.09% in the last five days; however, they have lost -9.01% over the last month. The stock price has shed -31.29% over the last three months and has lost -15.83 percent so far this year. IDEX stock is losing ground after delaying its Annual report filing.
Which IDEX stock filing is delayed?
Ideanomics (IDEX) is a worldwide gathering with a straightforward mission: to speed up the business reception of electric vehicles. By uniting vehicles and accusing innovation of plan, execution, and monetary administrations, IDEX gives the culmination of arrangements required for the business world to focus on an EV future.
Ideanomics (IDEX) this week declared that the documenting of its Annual Report on Form 10-K for the year finished December 31, 2021 (the “Structure 10-K”) wouldn’t happen to precede the lengthy March 16, 2022 cutoff time.
- On March 2, 2022, IDEX documented a Notification of Late Filing on Form 12b-25 (the “Structure 12b-25”), showing that the recording of its Form 10-K will be postponed.
- In spite of the fact that Ideanomics has committed huge assets to the finishing of settling its evaluated merged budget summaries and related divulgences for consideration in the Company’s Annual Report on Form 10-K for the year finished December 31, 2021.
- IDEX likewise has the expected appraisal of its interior powers over monetary detailing as expected by Section 404 of the Sarbanes-Oxley Act.
- In any case, IDEX can’t record its Annual Report on Form 10-K for the period finishing December 31, 2021 (the “Structure 10-K”) before March 16, 2022, the expansion period given by the 12b-25.
- Extra time is required by Ideanomics to finish its audit of the budget summaries remembered for the Form 10-K to guarantee a total, exact Annual Report.
- The deferral is expected basically to extra data and examination required corresponding to the Company’s China activities to finish the review.
- The Company is working tenaciously to finish the review and record the 10-K when practicable.
IDEX’s new securing move
Ideanomics (IDEX) likewise last week temporarily passed the 90% edge getting 93.63% of Energica’s portions through the intentional delicate proposal of Energica Motor Company S.p.A. (Energica) Shares, a main maker and wholesaler of elite execution 100 percent battery-controlled electric cruisers. IDEX anticipates that the procurement of Energica should nearby the finish of this quarter.
