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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

Advanced Micro Devices (NASDAQ:AMD)...

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
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Ideanomics Inc. (NASDAQ: IDEX) Wins Major New Business-To-Business Contracts to Deliver Electric Tractors

Ideanomics Inc. (NASDAQ: IDEX) moved down 7.19% in early trading session Friday as it disclosed that its subsidiary Solectrac has won major new business-to-business contracts to deliver electric tractors to clients with huge fleets. Solectrac has supplied the University of California Agriculture and Natural Resources and a prominent private sector plant nursery with a total of 17 powerful, zero-emission, and silent e25 tractors.

The Ideanomics Mobility president, Robin Mackie stated that because of their ongoing investment in growing the Solectrac brand, they are now ideally positioned to handle substantial orders for electric tractors from large fleet owners. This is a significant new revenue source for them, adding to the significant value currently provided by the rapidly expanding Solectrac dealer network.

Solectrac is exploring many high-value chances to offer its tractors to prominent agricultural enterprises, capitalizing on momentum. These high-volume sales will be made either directly to clients or in collaboration with Solectrac resellers. For direct sales, Solectrac focuses on speciality agriculture, parks, towns, and universities.

According to the Association of Equipment Manufacturers (AEM), an industry association that tracks retail tractor sales, tractor sales with less than 40 PTO horsepower have surpassed 127,000 units so far this year. The e25g is available from Solectrac in the ≤ 40 PTO hp category. Solectrac electric tractors perform the same functions as diesel tractors, but without the pollution caused by the use of expensive diesel fuel.

The combination of government subsidies, unpredictable diesel fuel prices, and business commitments to climate action will drive the spread of electric off-road gear. Ideanomics forecasts a considerable increase in the market share of electric tractors in a category expected to approach $100 billion by the end of the decade by Zion Research Investment and other organizations.

Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on...

RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company,...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading...

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Virgin Orbit (NASDAQ: VORB) Plans to Use Chapter 11 Procedure To Increase Value For Its Company

Shares of Virgin Orbit Holdings Inc. (NASDAQ: VORB) persist its gain in pre trading session as jumps over 50% in previous session as the company's U.S. subsidiaries, a capable supplier of space launches, declared that it has started a...

Teck Resources Limited (NYSE: TECK) Submits Proxy Circular, Supporting Documents for 2023 Meeting

Teck Resources Limited (NYSE: TECK) inches up in early session on Tuesday as the company announces that the management proxy circular and supporting documents for its annual and extraordinary shareholder meeting scheduled for April 26, 2023 have been submitted....

Broadcom Inc. (NASDAQ:AVGO) Soars After Britain Will Probe Its Acquisition of VMware (NYSE:VMW)

Broadcom Inc. (NASDAQ: AVGO) surges over 1.2% in pre trading session on Wednesday as the Britain declared it will thoroughly look into Broadcom's acquisition of VMware, Inc. (NYSE: VMW) after the US chipmaker made no quick commitments in response...

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