Why Ideanomics Stock Popped Today Evan Niu, CFA
What happened
Shares of
Ideanomics (NASDAQ: IDEX) have popped today, up by 17% as of 11:50 a.m. EST, after the company filed for a $150 million stock offering. The deal is being conducted as an at-the-market (ATM) offering.
So what
Ideanomics is tapping Roth Capital Partners as its agent to sell stock. Under an ATM offering, the agent sells stock on behalf of the issuer at prevailing prices directly into the market. The shares are being offered pursuant to a shelf registration that Ideanomics had previously filed. Shelf registrations allow companies to register securities for sale at a later time.
Author Bio
Travis Hoium has been writing for fool.com since July 2010 and covers the solar industry, renewable energy, and gaming stocks among other things. Follow @TravisHoium
Square s (NYSE:SQ) fourth quarter 2020 earnings report was met with some disappointment on Tuesday after the company revealed that its retail payments platform is growing relatively slowly, and most of its growth is driven by the volatile cryptocurrency
Bitcoin.
On the surface, Square s non-Bitcoin growth of 23% during the quarter doesn t look impressive, and compared to other e-commerce companies, it isn t. But if we look at the foundation of Square and where the company is heading, the picture looks a little better for this high-profile tech stock.