"Ideanomics, Inc. (NASDAQ: IDEX) is one of the best growth stocks to buy."
Ideanomics, Inc. (NASDAQ: IDEX) is a company that markets EV adoption services. It is placed eighth on our list of 10 best growth stocks under $10. The stock has returned 76% to investors over the course of the past twelve months. On May 17, the company posted earnings for the first quarter, reporting earnings per share of $0.00, beating market estimates by $0.03. The revenue over the period was more than $32 million, beating market estimates by more than $7.7 million. The firm also revealed that it had $356 million in cash at the end of the quarter.
On June 3, investment advisory Roth Capital maintained a Buy rating on Ideanomics, Inc. (NASDAQ: IDEX) stock with a price target of $7, appreciating the progress the firm was making to bring wireless charging infrastructure to the market.
At the end of the first quarter of 2021, 7 hedge funds in the database of Insider Monkey held stakes worth $20 million in Ideanomics, Inc. (NASDAQ: IDEX), up from 5 in the preceding quarter worth $3.4 million.
In line with Amazon.com, Inc. (NASDAQ: AMZN), Tesla, Inc. (NASDAQ: TSLA), Palantir Technologies Inc. (NYSE: PLTR), Shopify Inc. (NYSE: SHOP), Twitter, Inc. (NYSE: TWTR), and Sea Limited (NYSE: SE), Ideanomics, Inc. (NASDAQ: IDEX) is one of the best growth stocks to buy.