5 Best AI Penny Stocks Under $1

3. Ideanomics, Inc. (NASDAQ:IDEX)

Number of Hedge Fund Holders: 6    

Share Price as of December 3: $0.23

Ideanomics, Inc. (NASDAQ:IDEX) develops zero-emission mobility solutions for the off-highway and on-highway commercial vehicle markets in Asia and the United States. The firm is working on several artificial intelligence products, including digital asset enablement with AI and blockchain. On November 14, Ideanomics announced that it has secured strategic financing from DLL, a global financial solution provider, to drive the growth of its subsidiary Solectrac. Solectrac is available at 57 locations across the US and recently added seven more certified dealers to its dealer network.

At the end of the third quarter of 2022, 6 hedge funds in the database of Insider Monkey held stakes worth $11.2 million in Ideanomics, Inc. (NASDAQ:IDEX), compared to 4 in the preceding quarter worth $11 million.