Justly, once an emerging impact investing platform, has exited the space to focus on the EV or electric vehicle industry, according to a company statement.
Justy is a subsidiary of Ideanomics (NASDAQ: IDEX), a US-based “impact broker-dealer” focused on private equity and debt markets. Ideanomics is a publicly traded microcap with a current market valuation of around $67 million. Ideonomics 52-week high is around $0.72 a share which currently trades at around $0.08. Ideonomics has recently sought to raise additional capital.
Ideanomics is described as a company with a mission to accelerate the commercial adoption of electric vehicles.
Justly is now posting a notice stating:
“After careful consideration and a strategic business evaluation, Ideanomics has decided to cease operations of Justly Markets LLC to redirect its focus toward our core business in the electric vehicle (EV) industry.
We want to emphasize that Justly Markets LLC is not currently under investigation for any improprieties by its regulators, the Securities and Exchange Commission (SEC), or the Financial Industry Regulatory Authority (FINRA). This decision is purely strategic, aimed at aligning our efforts with our long-term goals and maximizing our commitment to the EV sector.”
In 2022, Ideanomics announced that it has begun the process to spin out its crowdfunding business Justly.
Justly operated a crowdfunding platform for private impact investments soliciting advisors, registered investment advisors, family offices, angels, and both accredited and non-accredited investors. As a broker-dealer, Justly sought to issue securities under Reg CF, Reg A, and Reg D.
