Why Shares of Indie Semiconductor Tumbled Nearly 10% Today
Shares of small auto technologist Indie Semiconductor (NASDAQ: INDI) fell 9.8% today as of market close. Shares of the semiconductor company, which went public via SPAC last summer, have been under pressure due to the threat of rising interest rates this year. Higher rates lower the future value of cash flows, which lowers the present value of a stock.
The stock is now 41% off its all-time high reached in November 2021.
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Source Fool.com
