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Why Indie Semiconductor Stock Is Falling Today

TheMotleyFool 
0 0 11.08.23
Why Indie Semiconductor Stock Is Falling Today: https://g.foolcdn.com/editorial/images/743851/an-arrow-moving-down-above-chart-lines.jpg
 

The stock of Indie Semiconductor (NASDAQ: INDI) is losing ground today following the publication of the company's second-quarter results. The share price was down 8.3% as of 1 p.m. ET on Friday, according to data from S&P Global Market Intelligence.

Indie Semiconductor released its second-quarter report after the market closed Thursday, posting sales and earnings for the period that actually beat the market's expectations. The company recorded a loss of $0.09 per share on revenue of $52.1 million, while the average analyst estimate had called for a per-share loss of $0.20 on sales of $52 million.

Despite the top-line and bottom-line beats, it looks like management's guidance is causing investors to lose confidence in the stock. 

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Source Fool.com

Nordic Semiconductor Stock

€11.89
1.760%
Nordic Semiconductor gained 1.760% today.

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