Ideanomics Inc IDEX Shares traded about 102% higher at $0.048 during Monday’s trading session on unusually high volume. The Benzinga newsdesk saw no company-specific news to justify the price action.

So what’s up?

IDEX stock rose on busy Friday with 708 million shares traded, a 20-fold increase from the last 100-day volume of 34.78 million shares. The surge in the share price, meanwhile, took place as the stock performed on social media platforms.

The sum of shares traded on Monday also exceeded Ideanomics’ total stock. The stock has a free float of 533.65 million, of which about 12.51% is short.

See also: If you had invested $100 in Tesla, AMD, Nvidia, Apple, Microsoft and Plug Power Stock 5 years ago, here is how much you would have now

Ideanomics is committed to accelerating the commercial adoption of electric vehicles.

According to data from Gasoline ProIDEX has a 52-week high of $0.89 and a 52-week low of $0.02.


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