Ideanomics, Inc. (IDEX) stock has risen only 4% since it reported its full-year 2020 financial results on March 31. In spite of the company had an increase of more than 600% in 2020 which compared to 2019 in EV revenue, but it is still not profitable.
The company said that the EV revenue in 2020 was $19.5 million versus $2.7 million in 2019, an increase of $16.8 million, but the company also reported a net loss of $106 million for 2020. To know, the company's current market value is $1.28 billion, it seems that the market still needs further price correction.
However, the company acquired WAVE, a market leader in inductive charging systems in January 2021, it will be included in the company's financial results starting this quarter and its revenue is expected to grow.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.