Ideanomics Inc: Is It The Best Electric Vehicle Stock for 2021?

The electric vehicle industry is one of the few sectors to have enjoyed a fair degree of importance among investors over the past year or so despite the coronavirus induced market chaos. One of the electric vehicle-related stocks that have emerged as a potential option for many investors in recent months is that of Ideanomics Inc (NASDAQ:IDEX).

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The company has many other interests and has become an interesting option for many investors in recent times. Hence, it was no surprise that the company was the subject of the latest video released by the popular YouTube channel RichTV Live. In this video, the host of the channel had a chat with the senior vice president of investor relations at Ideanomics Tony Sklar.

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While speaking to Sklar, the host stated that Ideanomics is in the current ‘top 2’ of his picks as far as electric vehicles are concerned. In this regard, it is also necessary to point out that RichTV Live has been tracking this stock for quite a while and in the latest episode the host stated that many of the channel’s subscribers had got into the stock when it was trading at $0.88 a share.

However, the most important comments during the chat were made by Sklar and those are nuggets of information that could prove vital for any potential investor.

Sklar stated that the company worked hard throughout the holiday season and worked on two highly important transactions. One of the transactions helped the company in getting to a position from which it could generate considerable cash flow. On top of that, it is necessary to keep in mind that Ideanomics is also involved in the Fintech sector and Sklar said that during the past month or so, the company also worked on projects that are going to supply a lot of data that are going to be vital for the fintech assets.

However, the most important thing that Sklar spoke about was a recent acquisition made by the company in the wireless electric vehicle recharging space. He stated that although a lot of work is being done with regards to electric vehicles, recharging services are going to be a major portion of the ecosystem.

Featured image: Pixabay

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