"Ahead of a new advancement, IDEX stock is moving up in the market. On June 14th Ideanomics announced that it has acquired U.S. EV tractor company Solectrac. It acquired the remaining 78.6% of the company which gives it a more than majority ownership. While many think of electric cars as the main source of a sustainable future, few consider the major agriculture industries’ use of fossil fuels. And, many farmers spend the majority of their operating costs on fuel for their vehicles. So, to transition to electric would be major for this industry."
Quote Source: 4 Penny Stocks to Watch Following the Fed Meeting and Powell’s Remarks