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Why Ideanomics Stock Popped Today

TheMotleyFool

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Shares of Ideanomics (NASDAQ: IDEX) soared today after the company announced that one of its subsidiaries, WAVE, anticipates it'll have a reduction in electric vehicle (EV) charging costs, thanks to "recent manufacturing and engineering investments."

The tech stock was up by 15% for the day.

WAVE is developing wireless charging solutions for medium- and heavy-duty vehicles. Some of its technology includes a hands-free charging system that is "embedded in roadways and charges vehicles during scheduled stops."

Source Fool.com

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