What happened Ideanomics (NASDAQ: IDEX) stock plummeted by as much as 18% today but recovered later in the day, gaining 5.9% as of 3:18 p.m. EST. The tech stock may have experienced a wild share price swing today after the company announced that its subsidiary, Tree Technologies, hired a new chief financial officer. So what Most companies don't usually experience such big share price movements because of new management, but Ideanomics' stock tends to react wildly to company-related news -- whether it's significant or not. Image source: Getty Images. Today's share price fall and then subsequent rise came as Ideanomics said it had hired Richard Teoh, who formerly worked as the director of group finance controlling at Volkswagen Group Malaysia, to be the new CFO of Treeletrik. Treeletrik CEO Datuk Viswanathan Menon said in a press release, "We have ambitious plans for Treeletrik's growth, and Richard's financial leadership, combined with his experience in relevant industries such as automotive, manufacturing, and construction, will help the company meet its growth objectives." The Treeletrik brand sells electric scooters and became a part of Ideanomics' brands when the company acquired a controlling stake in Tree Manufacturing in March 2019. Now what Ideanomics' stock plummeted yesterday on seemingly no company-related news. Investors may have sold off some of their shares after the company's stock spiked 239.5% in November. Investors' erratic reaction to Ideanomics' press release today shows just how volatile this stock can be, which means long-term investors may want to keep their distance from this company. 10 stocks we like better than Ideanomics, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Ideanomics, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source