In June, Ideanomics stock was the subject of a nasty smear campaign by short-selling firm Hindenburg Research. We told our readers and subscribers that the shorts were wrong after the dust had settled to ignore Hindenburg and focus on the real fundamentals. Hindenburg’s agenda it to go short and then come out with their usual hit piece – XYZ stock is a fraud, going to zero, and here’s our report. XYZ stock drops. Hindenburg covers. Rinse and repeat.
However, the shorts are about to get their comeuppance with Ideanomics stock. We are expecting some fireworks and the shorts are going to get burned, especially now that they have shorted over 10% of the float.
Ideanomics Stock Daily Chart
As you can see from the chart above, Hindenburg was able to drop the stock from $4 to $1 as nervous longs dumped their positions. While it’s terrible many sold at a loss, for those that know Ideanomics stock it was a discount entry opportunity. There’s so much in the pipeline it’s crazy, including the Treeletrik spinoff, the bus deliveries, more orders, more ventures; including a possible US venture. Shorts are playing with fire as per the existing news already released, Ideanomics stock should be back at the highs. Taking a closer look, the shorts have overplayed their hand and are about to get squeezed.