We are short $IDEX and believe it is heading near its March lows of $0.30 if it somehow avoids a regulatory halt that could see its shares go lower.
$IDEX has a history of changing biz models and pumping - then dumping - each new endeavor. Its move into EVs will be no different
$IDEX has a history of changing biz models and pumping - then dumping - each new endeavor. Its move into EVs will be no different
Since 2015, $IDEX has had 6 CEOs, 6 CFOs, four different company names, and has had 10 board members leave. 
We think $IDEX is an egregious & obvious fraud and investors need to look no further than the company's June 9 press release. The company touts the launch of its MEG EV sales center and includes a photo that bears a "2020" timestamp.
prnewswire.com/news-releases/…
prnewswire.com/news-releases/…
We found a photo displaying the exact same cars and exact same layout from 2018, years before the supposed soft launch of $IDEX's MEG center in 2020.
house.qingdaonews.com/xinloupan/show…
house.qingdaonews.com/xinloupan/show…
The vehicles shown in the $IDEX 2020 PR are the same, and in the same order, as the photo from the 2018 pictures.
The 2020 photo appears to show the exact same content from a slightly different angle.
prnewswire.com/news-releases/…
The 2020 photo appears to show the exact same content from a slightly different angle.
prnewswire.com/news-releases/…
In $IDEX's PR, the “MEG” logo on the red arch has been photoshopped to replace the original Mandarin.
The MEG letters form a straight line despite the logo supposedly on a curved surface.
To repeat, the company doctored photos in its PR to suggest it owns/operates the facility
The MEG letters form a straight line despite the logo supposedly on a curved surface.
To repeat, the company doctored photos in its PR to suggest it owns/operates the facility
In another PR, we see the exact same signs of photoshopping that impose $IDEX's flat MEG logo on a curved surface.
This strikes us as a clear effort by the company to manipulate the photographs in order to drive its stock price up.
investors.ideanomics.com/2020-05-26-Ide…
This strikes us as a clear effort by the company to manipulate the photographs in order to drive its stock price up.
investors.ideanomics.com/2020-05-26-Ide…
Our investigator visited $IDEX's supposed MEG sales center. Pic from this week.
The facility is actually operated by almost 100 sales groups. None of those we spoke with heard of $IDEX or MEG.
We spoke to the main office (in a recorded conversation) and they confirmed the same.
The facility is actually operated by almost 100 sales groups. None of those we spoke with heard of $IDEX or MEG.
We spoke to the main office (in a recorded conversation) and they confirmed the same.
We had our investigator call five of $IDEX's purported customers that are helping drive its supposed EV business.
None of them were aware of Ideanomics and none were able to confirm doing business with $IDEX.
None of them were aware of Ideanomics and none were able to confirm doing business with $IDEX.
We have watched $IDEX's stock pump and dump on a neverending stream of press releases over the last 5 years and we expect this time will be no different, resulting in major shareholder losses or regulatory intervention.
Buyer beware.
Buyer beware.
